Thompson Siegel & Walmsley LLC Has $2.14 Million Stake in Truist Financial Co. (NYSE:TFC)

Thompson Siegel & Walmsley LLC cut its holdings in Truist Financial Co. (NYSE:TFC) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,921 shares of the insurance provider’s stock after selling 466 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Truist Financial were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the third quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial during the 2nd quarter worth about $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial in the 2nd quarter valued at about $31,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial in the 3rd quarter valued at about $32,000. Finally, Fortitude Family Office LLC raised its stake in 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 buying an additional 678 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. The Goldman Sachs Group reduced their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Compass Point raised their price target on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and a consensus price target of $46.37.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.96 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 52 week low of $31.23 and a 52 week high of $48.06. The firm’s 50-day simple moving average is $43.68 and its two-hundred day simple moving average is $41.51.

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

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.34%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -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.