Capital City Trust Co. FL Sells 1,767 Shares of Truist Financial Co. (NYSE:TFC)

Capital City Trust Co. FL lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 20.5% during the third quarter, HoldingsChannel reports. The firm owned 6,857 shares of the insurance provider’s stock after selling 1,767 shares during the quarter. Capital City Trust Co. FL’s holdings in Truist Financial were worth $293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter worth $26,000. Crewe Advisors LLC acquired a new stake in Truist Financial in the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial during the second quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial in the second quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC boosted its stake in shares of 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 acquiring an additional 678 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

TFC stock opened at $46.55 on Monday. The company’s 50-day moving average price is $43.18 and its two-hundred day moving average price is $41.27. Truist Financial Co. has a 12 month low of $31.13 and a 12 month high of $47.57. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a market cap of $61.80 billion, a P/E ratio of -32.55, a P/E/G ratio of 1.91 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 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TFC. UBS Group increased their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Barclays increased their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Bank of America lifted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group decreased their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $46.37.

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.