Truist Financial Co. (NYSE:TFC) Shares Bought by Fortitude Family Office LLC

Fortitude Family Office LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 376.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 858 shares of the insurance provider’s stock after acquiring an additional 678 shares during the quarter. Fortitude Family Office LLC’s holdings in Truist Financial were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TFC. Capital Investment Counsel Inc grew its position in shares of Truist Financial by 0.4% in the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after purchasing an additional 244 shares during the period. Burkett Financial Services LLC grew its position in shares of Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 253 shares during the period. Verum Partners LLC boosted its holdings in Truist Financial by 2.5% in the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 261 shares during the last quarter. CX Institutional boosted its holdings in Truist Financial by 3.4% in the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 263 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Truist Financial by 1.5% in the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after acquiring an additional 274 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.5 %

NYSE:TFC opened at $43.31 on Thursday. 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 Co. has a one year low of $27.88 and a one year high of $45.31. The business’s 50-day simple moving average is $42.83 and its 200 day simple moving average is $40.59. The stock has a market cap of $58.00 billion, a price-to-earnings ratio of -30.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05.

Truist Financial Announces Dividend

The firm also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TFC shares. Compass Point lifted their target price on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Bank of America lifted their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays lifted their target price on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods lifted their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average 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.