F M Investments LLC Raises Stake in Truist Financial Co. (NYSE:TFC)

F M Investments LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 214.9% during the third quarter, Holdings Channel.com reports. The firm owned 214,970 shares of the insurance provider’s stock after acquiring an additional 146,703 shares during the quarter. F M Investments LLC’s holdings in Truist Financial were worth $9,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC purchased a new stake in shares of Truist Financial in the 3rd quarter worth approximately $224,000. Farther Finance Advisors LLC boosted its holdings in Truist Financial by 74.4% in the third quarter. Farther Finance Advisors LLC now owns 16,543 shares of the insurance provider’s stock worth $707,000 after acquiring an additional 7,055 shares in the last quarter. Lowe Brockenbrough & Co. Inc. grew its stake in shares of Truist Financial by 6.6% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 28,856 shares of the insurance provider’s stock worth $1,234,000 after acquiring an additional 1,798 shares during the last quarter. Eads & Heald Wealth Management increased its holdings in shares of Truist Financial by 75.8% during the third quarter. Eads & Heald Wealth Management now owns 14,014 shares of the insurance provider’s stock valued at $599,000 after acquiring an additional 6,042 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC purchased a new position in shares of Truist Financial in the 3rd quarter worth about $322,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TFC. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Argus boosted their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Bank of America increased their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. UBS Group boosted their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada lifted 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. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.02.

Truist Financial Trading Down 0.5 %

Shares of TFC traded down $0.23 during mid-day trading on Friday, reaching $42.82. The stock had a trading volume of 6,286,110 shares, compared to its average volume of 8,094,859. The business has a fifty day moving average of $42.84 and a 200 day moving average of $40.65. 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 12 month low of $28.84 and a 12 month high of $45.31.

Truist Financial Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -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.