Blake Schutter Theil Wealth Advisors LLC Invests $300,000 in Truist Financial Co. (NYSE:TFC)

Blake Schutter Theil Wealth Advisors LLC purchased a new position in Truist Financial Co. (NYSE:TFC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,017 shares of the insurance provider’s stock, valued at approximately $300,000.

A number of other hedge funds also recently bought and sold shares of TFC. American Capital Advisory LLC grew its stake in Truist Financial by 21.1% in the 3rd quarter. American Capital Advisory LLC now owns 4,876 shares of the insurance provider’s stock valued at $209,000 after acquiring an additional 850 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Truist Financial by 2.5% in the third quarter. Concurrent Investment Advisors LLC now owns 133,375 shares of the insurance provider’s stock valued at $5,704,000 after purchasing an additional 3,297 shares during the period. Centennial Wealth Advisory LLC increased its stake in shares of Truist Financial by 4.6% during the third quarter. Centennial Wealth Advisory LLC now owns 10,915 shares of the insurance provider’s stock worth $467,000 after purchasing an additional 482 shares in the last quarter. Foster & Motley Inc. raised its position in shares of Truist Financial by 24.9% during the 3rd quarter. Foster & Motley Inc. now owns 11,037 shares of the insurance provider’s stock worth $472,000 after purchasing an additional 2,199 shares during the last quarter. Finally, Radnor Capital Management LLC acquired a new stake in Truist Financial in the 3rd quarter worth about $216,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their target price for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Compass Point boosted their price target on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Bank of America boosted their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Price Performance

TFC stock opened at $47.01 on Thursday. The business’s fifty day moving average price is $42.82 and its 200 day moving average price is $40.85. Truist Financial Co. has a 12-month low of $28.93 and a 12-month high of $47.03. The company has a market capitalization of $62.40 billion, a PE ratio of -32.87, a P/E/G ratio of 1.73 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio 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.