4,752 Shares in Truist Financial Co. (NYSE:TFC) Bought by MQS Management LLC

MQS Management LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,752 shares of the insurance provider’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently added to or reduced their stakes in TFC. Crewe Advisors LLC purchased a new stake in Truist Financial during the 1st quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial during the 2nd quarter worth $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial during the 2nd quarter worth $31,000. Fortitude Family Office LLC lifted its holdings in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Truist Financial in the 2nd quarter worth $38,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Price Performance

NYSE TFC opened at $46.54 on Friday. Truist Financial Co. has a 52 week low of $31.13 and a 52 week high of $47.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market cap of $61.78 billion, a price-to-earnings ratio of -32.54, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05. The company has a 50-day moving average price of $43.09 and a two-hundred day moving average price of $41.16.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Analysts forecast that Truist Financial Co. will post 3.7 EPS for the current 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TFC shares. Morgan Stanley boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Barclays boosted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Stephens restated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Company 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.