Truist Financial Co. (NYSE:TFC) Shares Sold by First National Trust Co

First National Trust Co decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 205,359 shares of the insurance provider’s stock after selling 4,276 shares during the period. First National Trust Co’s holdings in Truist Financial were worth $8,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors boosted its stake in Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after buying an additional 5,632,493 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after acquiring an additional 1,609,351 shares during the last quarter. Swedbank AB purchased a new stake in Truist Financial in the first quarter valued at approximately $29,957,000. National Bank of Canada FI increased its position in Truist Financial by 41.8% during the first quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after purchasing an additional 541,037 shares during the last quarter. Finally, GW Henssler & Associates Ltd. raised its stake in Truist Financial by 4,435.3% during the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after purchasing an additional 494,007 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TFC shares. Royal Bank of Canada upped their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Argus raised their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Up 2.7 %

Shares of NYSE:TFC opened at $46.44 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $28.97 and a 12-month high of $47.03. The company has a fifty day simple moving average of $42.88 and a 200 day simple moving average of $40.97. The firm has a market cap of $61.65 billion, a PE ratio of -32.48, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. On average, equities research analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio 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.