Truist Financial Co. (NYSE:TFC) Shares Bought by Signaturefd LLC

Signaturefd LLC raised its stake in Truist Financial Co. (NYSE:TFC) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,404 shares of the insurance provider’s stock after acquiring an additional 1,348 shares during the period. Signaturefd LLC’s holdings in Truist Financial were worth $2,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Oakworth Capital Inc. boosted its stake in Truist Financial by 251.0% in the third quarter. Oakworth Capital Inc. now owns 21,724 shares of the insurance provider’s stock valued at $929,000 after acquiring an additional 15,534 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in Truist Financial by 4.4% in the third quarter. Foundations Investment Advisors LLC now owns 31,898 shares of the insurance provider’s stock valued at $1,364,000 after acquiring an additional 1,352 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in Truist Financial by 20.8% in the third quarter. Toth Financial Advisory Corp now owns 6,658 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 1,147 shares in the last quarter. Godsey & Gibb Inc. boosted its stake in Truist Financial by 2.7% in the third quarter. Godsey & Gibb Inc. now owns 464,446 shares of the insurance provider’s stock valued at $19,864,000 after acquiring an additional 12,350 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Truist Financial by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after buying an additional 5,786 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TFC shares. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. UBS Group increased their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. Compass Point increased their target price on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price target 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. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $46.02.

Insider Activity

In related news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 2.3 %

Shares of TFC opened at $43.39 on Wednesday. The firm has a market cap of $58.06 billion, a PE ratio of -32.87, a price-to-earnings-growth ratio of 1.83 and a beta of 1.05. The company’s fifty day moving average is $42.73 and its two-hundred day moving average is $40.39. Truist Financial Co. has a fifty-two week low of $26.95 and a fifty-two week high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

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

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.79%. Truist Financial’s dividend payout ratio is presently -157.58%.

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.