Commonwealth Retirement Investments LLC Purchases 4,300 Shares of Truist Financial Co. (NYSE:TFC)

Commonwealth Retirement Investments LLC raised its position in Truist Financial Co. (NYSE:TFC) by 5.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 78,309 shares of the insurance provider’s stock after buying an additional 4,300 shares during the period. Truist Financial comprises approximately 1.4% of Commonwealth Retirement Investments LLC’s holdings, making the stock its 20th largest holding. Commonwealth Retirement Investments LLC’s holdings in Truist Financial were worth $3,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial during the 2nd quarter worth $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial during the 2nd quarter worth $31,000. Fortitude Family Office LLC raised its stake in Truist Financial by 376.7% during the 3rd 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. Finally, Hobbs Group Advisors LLC acquired a new stake in Truist Financial during the 2nd quarter worth $38,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 0.1 %

Shares of Truist Financial stock traded down $0.03 during trading on Tuesday, hitting $46.41. The company’s stock had a trading volume of 669,898 shares, compared to its average volume of 8,313,277. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a 52 week low of $28.97 and a 52 week high of $47.03. The stock has a market cap of $61.61 billion, a price-to-earnings ratio of -32.48, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The stock has a 50-day moving average price of $42.92 and a two-hundred day moving average price of $41.03.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Equities research analysts anticipate that Truist Financial Co. will post 3.7 EPS 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. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.48%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Argus lifted their price target on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. 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. Barclays lifted their price target on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group lowered their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research 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. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $46.02.

About Truist Financial

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.