Harvest Portfolios Group Inc. Decreases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Harvest Portfolios Group Inc. lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 9.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 135,505 shares of the insurance provider’s stock after selling 14,872 shares during the period. Harvest Portfolios Group Inc.’s holdings in Truist Financial were worth $5,796,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of Truist Financial in the first quarter worth about $27,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the second quarter valued at $30,000. Y.D. More Investments Ltd purchased a new position in shares of Truist Financial in the 2nd quarter worth approximately $31,000. Fortitude Family Office LLC raised its holdings in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in Truist Financial in the second quarter worth $38,000. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TFC shares. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Bank of America upped their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Argus raised their price target on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Compass Point increased their price target on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Performance

Shares of TFC stock opened at $45.58 on Wednesday. The business has a fifty day moving average of $42.76 and a 200 day moving average of $40.81. Truist Financial Co. has a 1 year low of $28.93 and a 1 year high of $45.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.56%. 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.