DRW Securities LLC Increases Position in Truist Financial Co. (NYSE:TFC)

DRW Securities LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 7.8% during the third quarter, Holdings Channel reports. The fund owned 122,312 shares of the insurance provider’s stock after acquiring an additional 8,863 shares during the period. DRW Securities LLC’s holdings in Truist Financial were worth $5,231,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the 3rd quarter valued at about $26,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the second quarter valued at approximately $30,000. Y.D. More Investments Ltd purchased a new position in shares of Truist Financial during the second quarter worth approximately $31,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $32,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TFC shares. UBS Group lifted their target price 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. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Compass Point increased their target price on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.37.

Truist Financial Trading Up 2.5 %

Shares of NYSE TFC opened at $47.96 on Monday. The business’s 50 day moving average is $43.68 and its two-hundred day moving average is $41.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a 1-year low of $31.23 and a 1-year high of $48.06. The stock has a market capitalization of $63.67 billion, a P/E ratio of -33.54, a PEG ratio of 1.97 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 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, research analysts expect that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.34%. Truist Financial’s dividend payout ratio 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.