Community Trust & Investment Co. Grows Stock Holdings in Truist Financial Co. (NYSE:TFC)

Community Trust & Investment Co. grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 34.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,671 shares of the insurance provider’s stock after buying an additional 5,000 shares during the quarter. Community Trust & Investment Co.’s holdings in Truist Financial were worth $841,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in Truist Financial during the first quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial during the second quarter worth approximately $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial during the second quarter worth approximately $31,000. Hobbs Group Advisors LLC purchased a new stake in Truist Financial during the second quarter worth approximately $38,000. Finally, Beacon Capital Management LLC lifted its position in shares of Truist Financial by 57.4% during the first quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 370 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $43.39 on Wednesday. The firm has a 50-day moving average price of $42.73 and a 200 day moving average price of $40.39. The firm has a market capitalization of $58.06 billion, a PE ratio of -32.87, a P/E/G ratio of 1.83 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 52-week low of $26.95 and a 52-week high of $45.31.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the prior year, the company earned $0.95 EPS. Truist Financial’s revenue was down 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.57 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.79%. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TFC has been the topic of a number of recent research reports. Argus boosted 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. Compass Point upped their price target on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. The Goldman Sachs Group cut their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Stephens reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target of $46.02.

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.