Truist Financial Co. (NYSE:TFC) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC lowered its stake in Truist Financial Co. (NYSE:TFC) by 0.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 38,657 shares of the insurance provider’s stock after selling 220 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Truist Financial were worth $1,653,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. lifted its position in Truist Financial by 10.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,636 shares of the insurance provider’s stock valued at $1,524,000 after buying an additional 3,283 shares during the last quarter. Metis Global Partners LLC lifted its position in Truist Financial by 3.4% in the third quarter. Metis Global Partners LLC now owns 54,232 shares of the insurance provider’s stock valued at $2,320,000 after buying an additional 1,772 shares during the last quarter. Huntington National Bank lifted its position in Truist Financial by 1.3% in the third quarter. Huntington National Bank now owns 69,766 shares of the insurance provider’s stock valued at $2,984,000 after buying an additional 897 shares during the last quarter. Freemont Management S.A. acquired a new stake in shares of Truist Financial during the third quarter worth about $2,498,000. Finally, Plato Investment Management Ltd lifted its position in shares of Truist Financial by 94.6% during the third quarter. Plato Investment Management Ltd now owns 12,721 shares of the insurance provider’s stock worth $544,000 after purchasing an additional 6,184 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.6 %

Shares of TFC opened at $46.25 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50 day simple moving average is $43.03 and its 200-day simple moving average is $41.13. Truist Financial Co. has a 12-month low of $31.12 and a 12-month high of $47.57.

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

Truist Financial Dividend Announcement

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 given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.50%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TFC shares. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. 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 research report on Wednesday, October 16th. Finally, Argus upped their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock 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.