Banco Santander S.A. Takes Position in Truist Financial Co. (NYSE:TFC)

Banco Santander S.A. acquired a new position in Truist Financial Co. (NYSE:TFC) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 5,574 shares of the insurance provider’s stock, valued at approximately $238,000.

Other hedge funds have also bought and sold shares of the company. L & S Advisors Inc purchased a new position in shares of Truist Financial in the third quarter valued at $3,280,000. Integrated Investment Consultants LLC bought a new position in Truist Financial in the 3rd quarter worth about $2,546,000. LPL Financial LLC grew its holdings in Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after buying an additional 630,628 shares in the last quarter. Tradewinds LLC. increased its position in shares of Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after buying an additional 222 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Truist Financial by 34.5% in the third quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock worth $829,000 after buying an additional 4,975 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their target price 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. UBS Group lifted their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company upped their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $47.96 on Friday. 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 Co. has a one year low of $31.23 and a one year high of $48.06. The business’s 50 day simple moving average is $43.68 and its two-hundred day simple moving average is $41.53. The stock has a market capitalization of $63.67 billion, a P/E ratio of -33.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts forecast that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced 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 4.34%. Truist Financial’s dividend 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.