Truist Financial Co. (NYSE:TFC) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,229 shares of the insurance provider’s stock after acquiring an additional 1,081 shares during the quarter. Summit Trail Advisors LLC’s holdings in Truist Financial were worth $651,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Truist Financial by 316.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after purchasing an additional 1,609,351 shares during the last quarter. Swedbank AB bought a new stake in Truist Financial in the first quarter valued at $29,957,000. LPL Financial LLC boosted its holdings in shares of Truist Financial by 21.0% during the third quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after acquiring an additional 630,628 shares during the period. GW Henssler & Associates Ltd. grew its position in shares of 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 last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of Truist Financial in the 3rd quarter worth about $19,860,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley raised their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Citigroup increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.57.

Truist Financial Trading Up 0.3 %

NYSE:TFC opened at $48.12 on Tuesday. The stock has a fifty day simple moving average of $43.80 and a 200 day simple moving average of $41.61. The firm has a market capitalization of $63.88 billion, a price-to-earnings ratio of -33.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. Truist Financial Co. has a 1-year low of $31.23 and a 1-year high of $49.06. 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 announced 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. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Sell-side analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.32%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -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.