Nwam LLC Takes Position in Truist Financial Co. (NYSE:TFC)

Nwam LLC purchased a new stake in shares of Truist Financial Co. (NYSE:TFC) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 8,132 shares of the insurance provider’s stock, valued at approximately $348,000.

Other large investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the third quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial during the second quarter worth $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial during the second quarter worth $31,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the third quarter worth $32,000. Finally, Fortitude Family Office LLC increased its position in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TFC shares. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group reduced their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.37.

Truist Financial Price Performance

NYSE:TFC opened at $47.96 on Monday. 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 50-day moving average of $43.68 and a 200-day moving average of $41.54. Truist Financial Co. has a one year low of $31.23 and a one year high of $48.06.

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. The company had revenue of $5.09 billion during 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%. As a group, analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.