Freemont Management S.A. Takes $2.50 Million Position in Truist Financial Co. (NYSE:TFC)

Freemont Management S.A. purchased a new position in Truist Financial Co. (NYSE:TFC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 58,400 shares of the insurance provider’s stock, valued at approximately $2,498,000. Truist Financial accounts for about 1.2% of Freemont Management S.A.’s portfolio, making the stock its 25th biggest position.

A number of other large investors have also recently modified their holdings of TFC. Crewe Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial in the second quarter worth approximately $31,000. 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 worth $37,000 after buying an additional 678 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Truist Financial during the 2nd quarter valued at about $38,000. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays raised their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Wednesday, July 17th. Finally, UBS Group increased their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average price target of $46.02.

Truist Financial Trading Down 0.3 %

TFC opened at $46.51 on Thursday. The stock has a fifty day moving average price of $42.97 and a 200-day moving average price of $41.09. Truist Financial Co. has a 12 month low of $30.31 and a 12 month high of $47.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a market cap of $61.74 billion, a price-to-earnings ratio of -32.52, a PEG ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) 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 the consensus estimate 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, equities research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.47%. Truist Financial’s payout ratio is currently -145.45%.

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.