Truist Financial Co. (NYSE:TFC) Shares Bought by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 19.7% during the 3rd quarter, Holdings Channel reports. The firm owned 24,582 shares of the insurance provider’s stock after buying an additional 4,049 shares during the period. Aptus Capital Advisors LLC’s holdings in Truist Financial were worth $1,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Investment Counsel Inc raised its holdings in shares of Truist Financial by 0.4% in the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after purchasing an additional 244 shares in the last quarter. Burkett Financial Services LLC increased its holdings in Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after buying an additional 253 shares during the last quarter. Verum Partners LLC raised its stake in Truist Financial by 2.5% in the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after buying an additional 261 shares in the last quarter. CX Institutional lifted its holdings in Truist Financial by 3.4% during the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after buying an additional 263 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its position in shares of Truist Financial by 2.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock worth $445,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and boosted their target price for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. The Goldman Sachs Group dropped their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Barclays boosted their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Argus raised their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.02.

Truist Financial Stock Performance

NYSE:TFC opened at $46.25 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a fifty-two week low of $31.12 and a fifty-two week high of $47.57. The firm’s fifty day simple moving average is $43.03 and its 200-day simple moving average is $41.13. The stock has a market cap of $61.40 billion, a PE ratio of -32.29, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.