Haverford Trust Co Has $540,000 Position in Truist Financial Co. (NYSE:TFC)

Haverford Trust Co boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,629 shares of the insurance provider’s stock after purchasing an additional 998 shares during the quarter. Haverford Trust Co’s holdings in Truist Financial were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital International Investors lifted its holdings in Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after acquiring an additional 1,609,351 shares during the period. Swedbank AB acquired a new position in shares of Truist Financial in the first quarter valued at about $29,957,000. National Bank of Canada FI grew its stake in shares of Truist Financial by 41.8% in the first quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock valued at $72,446,000 after acquiring an additional 541,037 shares in the last quarter. Finally, GW Henssler & Associates Ltd. increased its position in Truist Financial by 4,435.3% during the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after acquiring an additional 494,007 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

NYSE TFC opened at $46.25 on Friday. The company has a market capitalization of $61.40 billion, a price-to-earnings ratio of -32.34, a PEG ratio of 1.92 and a beta of 1.05. Truist Financial Co. has a twelve month low of $31.12 and a twelve month high of $47.57. The stock has a fifty day simple moving average of $43.03 and a 200 day simple moving average of $41.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Sell-side analysts expect that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. Barclays increased their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group reduced their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Compass Point lifted their price objective on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Morgan Stanley increased their target price on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Argus upped their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.