Metis Global Partners LLC Purchases 1,772 Shares of Truist Financial Co. (NYSE:TFC)

Metis Global Partners LLC raised its position in shares of Truist Financial Co. (NYSE:TFC) by 3.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,232 shares of the insurance provider’s stock after acquiring an additional 1,772 shares during the quarter. Metis Global Partners LLC’s holdings in Truist Financial were worth $2,320,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TFC. Capital International Investors raised its holdings in shares of Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after purchasing an additional 5,632,493 shares during the period. Legal & General Group Plc raised its holdings in shares of Truist Financial by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after acquiring an additional 103,565 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Truist Financial by 6.7% in the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock worth $191,600,000 after acquiring an additional 311,523 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Truist Financial by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock worth $136,018,000 after acquiring an additional 58,349 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upped their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Stephens reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group reduced their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Trading Up 0.6 %

Truist Financial stock opened at $46.54 on Friday. The stock has a market cap of $61.78 billion, a P/E ratio of -32.54, a PEG ratio of 1.91 and a beta of 1.05. Truist Financial Co. has a fifty-two week low of $31.13 and a fifty-two week high of $47.57. The firm’s fifty day moving average price is $43.09 and its 200-day moving average price is $41.16. 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 (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Equities research analysts forecast 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. Investors of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.47%. Truist Financial’s dividend payout ratio is presently -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.