Venturi Wealth Management LLC Has $437,000 Stake in Truist Financial Co. (NYSE:TFC)

Venturi Wealth Management LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,229 shares of the insurance provider’s stock after purchasing an additional 599 shares during the quarter. Venturi Wealth Management LLC’s holdings in Truist Financial were worth $437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in Truist Financial in the 1st quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial during the second quarter worth about $31,000. Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Truist Financial in the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upped their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Barclays raised their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.02.

Truist Financial Price Performance

Shares of TFC stock opened at $46.66 on Wednesday. The firm’s 50 day moving average price is $42.92 and its two-hundred day moving average price is $41.03. 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 52-week low of $28.97 and a 52-week high of $47.03. The stock has a market cap of $61.94 billion, a PE ratio of -32.24, a PEG ratio of 1.86 and a beta of 1.05.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, analysts forecast that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.46%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is presently -145.45%.

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.