Oppenheimer & Co. Inc. Sells 10,060 Shares of Truist Financial Co. (NYSE:TFC)

Oppenheimer & Co. Inc. lowered its position in Truist Financial Co. (NYSE:TFC) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,106 shares of the insurance provider’s stock after selling 10,060 shares during the period. Oppenheimer & Co. Inc.’s holdings in Truist Financial were worth $5,693,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TFC. Crewe Advisors LLC purchased a new stake in Truist Financial in the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the second quarter valued at approximately $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial in the second quarter worth $31,000. Fortitude Family Office LLC grew its stake in 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 during the period. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Truist Financial during the 2nd quarter valued at $38,000. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TFC shares. Compass Point boosted their price target on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Argus increased their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group dropped their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, UBS Group raised their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Performance

Truist Financial stock opened at $46.25 on Friday. The firm’s 50 day simple moving average is $43.03 and its 200 day simple moving average is $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 Co. has a 1-year low of $31.12 and a 1-year high of $47.57.

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 for the quarter, compared to the consensus estimate of $5.05 billion. Analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed 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. This represents a $2.08 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Truist Financial Company 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.