Truist Financial Co. (NYSE:TFC) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC decreased its stake in Truist Financial Co. (NYSE:TFC) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,254 shares of the insurance provider’s stock after selling 14,556 shares during the period. Verdence Capital Advisors LLC’s holdings in Truist Financial were worth $3,775,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GSA Capital Partners LLP lifted its position in shares of Truist Financial by 97.1% during the first quarter. GSA Capital Partners LLP now owns 13,191 shares of the insurance provider’s stock worth $514,000 after purchasing an additional 6,500 shares in the last quarter. Empowered Funds LLC lifted its holdings in Truist Financial by 6.7% in the 1st quarter. Empowered Funds LLC now owns 71,319 shares of the insurance provider’s stock worth $2,780,000 after buying an additional 4,456 shares in the last quarter. SG Americas Securities LLC boosted its position in Truist Financial by 308.6% in the 1st quarter. SG Americas Securities LLC now owns 310,961 shares of the insurance provider’s stock valued at $12,121,000 after buying an additional 234,849 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Truist Financial by 10.8% during the first quarter. Oppenheimer & Co. Inc. now owns 135,040 shares of the insurance provider’s stock valued at $5,264,000 after acquiring an additional 13,187 shares in the last quarter. Finally, Forsta AP Fonden increased its position in shares of Truist Financial by 15.8% during the first quarter. Forsta AP Fonden now owns 299,900 shares of the insurance provider’s stock worth $11,690,000 after acquiring an additional 40,900 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 1.0 %

Truist Financial stock opened at $45.22 on Friday. The firm has a market capitalization of $60.03 billion, a P/E ratio of -31.62, a P/E/G ratio of 1.94 and a beta of 1.05. The company has a 50-day simple moving average of $42.88 and a 200-day simple moving average of $40.94. Truist Financial Co. has a one year low of $28.93 and a one year high of $47.03. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.60%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Ratings Changes

TFC has been the subject of a number of analyst reports. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. 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. The Goldman Sachs Group cut their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada raised their price objective 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.02.

Truist Financial 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.