Tradewinds LLC. Boosts Stake in Truist Financial Co. (NYSE:TFC)

Tradewinds LLC. boosted its position in Truist Financial Co. (NYSE:TFC) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,513 shares of the insurance provider’s stock after purchasing an additional 222 shares during the period. Tradewinds LLC.’s holdings in Truist Financial were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of TFC. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the third quarter worth about $26,000. Crewe Advisors LLC purchased a new stake in Truist Financial in the 1st quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the 3rd quarter valued at about $32,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the 2nd quarter worth about $30,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Truist Financial during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 1.0 %

Shares of NYSE:TFC opened at $46.18 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $61.30 billion, a P/E ratio of -32.29, a P/E/G ratio of 1.92 and a beta of 1.05. The business’s 50-day moving average is $43.45 and its 200 day moving average is $41.41. Truist Financial Co. has a 1 year low of $31.23 and a 1 year high of $47.57.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, research analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business 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 dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.50%. Truist Financial’s payout ratio is currently -145.45%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and raised their price target for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group dropped their target price 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. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus 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.