10,609 Shares in Truist Financial Co. (NYSE:TFC) Purchased by BLB&B Advisors LLC

BLB&B Advisors LLC purchased a new position in Truist Financial Co. (NYSE:TFC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,609 shares of the insurance provider’s stock, valued at approximately $454,000.

A number of other institutional investors also recently bought and sold shares of TFC. Crewe Advisors LLC acquired a new position in shares of Truist Financial in the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial in the 2nd quarter worth approximately $31,000. Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial during the 2nd quarter worth approximately $38,000. Finally, Beacon Capital Management LLC increased its holdings in shares of Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 370 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.1 %

TFC stock opened at $43.44 on Thursday. The company has a market cap of $58.13 billion, a price-to-earnings ratio of -32.91, a PEG ratio of 1.83 and a beta of 1.05. The firm has a 50-day moving average of $42.76 and a two-hundred day moving average of $40.41. Truist Financial Co. has a 12 month low of $27.01 and a 12 month high of $45.31. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. As a group, analysts forecast that Truist Financial Co. will post 3.57 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.79%. Truist Financial’s dividend payout ratio is presently -157.58%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TFC shares. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.02.

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.