Citizens Financial Group Inc. RI Purchases 938 Shares of Truist Financial Co. (NYSE:TFC)

Citizens Financial Group Inc. RI increased its position in Truist Financial Co. (NYSE:TFC) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,548 shares of the insurance provider’s stock after buying an additional 938 shares during the period. Citizens Financial Group Inc. RI’s holdings in Truist Financial were worth $408,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC boosted its stake in shares of Truist Financial by 4.0% in the third quarter. Prospera Private Wealth LLC now owns 16,739 shares of the insurance provider’s stock worth $716,000 after acquiring an additional 642 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Truist Financial in the 3rd quarter worth approximately $11,655,000. First City Capital Management Inc. boosted its stake in Truist Financial by 28.9% in the 3rd quarter. First City Capital Management Inc. now owns 14,581 shares of the insurance provider’s stock worth $624,000 after purchasing an additional 3,272 shares during the period. Verity & Verity LLC grew its holdings in Truist Financial by 1.2% during the 3rd quarter. Verity & Verity LLC now owns 388,139 shares of the insurance provider’s stock valued at $16,601,000 after buying an additional 4,534 shares in the last quarter. Finally, Pathstone Holdings LLC raised its position in shares of Truist Financial by 0.5% during the third quarter. Pathstone Holdings LLC now owns 166,827 shares of the insurance provider’s stock valued at $7,135,000 after buying an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TFC. Keefe, Bruyette & Woods raised 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. Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group dropped their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. 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 research note on Friday, October 18th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Truist Financial has an average rating of “Hold” and an average price target of $46.37.

Truist Financial Trading Up 2.5 %

TFC opened at $47.96 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 stock’s 50 day moving average price is $43.68 and its 200-day moving average price is $41.53. Truist Financial Co. has a one year low of $31.23 and a one year high of $48.06. The stock has a market cap of $63.67 billion, a price-to-earnings ratio of -33.54, a P/E/G ratio of 1.92 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, 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 positive return on equity of 9.35% and a negative net margin of 4.89%. On average, equities analysts forecast that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

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