Kavar Capital Partners Group LLC Decreases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Kavar Capital Partners Group LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 66,210 shares of the insurance provider’s stock after selling 4,675 shares during the period. Kavar Capital Partners Group LLC’s holdings in Truist Financial were worth $2,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TFC. Crewe Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial in the 2nd quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the 2nd quarter worth approximately $31,000. Hobbs Group Advisors LLC acquired a new position in Truist Financial in the 2nd quarter worth approximately $38,000. Finally, Beacon Capital Management LLC increased its holdings in Truist Financial by 57.4% in the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after buying an additional 370 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, Argus raised their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average price target of $46.02.

Truist Financial Trading Down 1.8 %

NYSE TFC opened at $42.63 on Friday. Truist Financial Co. has a 12 month low of $27.38 and a 12 month high of $45.31. The stock has a market capitalization of $57.04 billion, a P/E ratio of -32.30, a PEG ratio of 1.84 and a beta of 1.05. The firm’s 50-day moving average is $42.79 and its two-hundred day moving average is $40.47. 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 Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.88%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.