Tandem Investment Advisors Inc. Increases Position in Truist Financial Co. (NYSE:TFC)

Tandem Investment Advisors Inc. raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 202.7% in the third quarter, Holdings Channel.com reports. The firm owned 34,307 shares of the insurance provider’s stock after buying an additional 22,973 shares during the period. Tandem Investment Advisors Inc.’s holdings in Truist Financial were worth $1,467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Truist Financial during the first quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial during the 2nd quarter worth $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the second quarter worth about $31,000. Fortitude Family Office LLC increased its holdings 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 valued at $37,000 after acquiring 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. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on TFC. Keefe, Bruyette & Woods upped their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating 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 research report on Tuesday, July 30th. Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays increased their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Price Performance

TFC stock opened at $46.20 on Friday. The firm has a 50-day moving average of $42.82 and a two-hundred day moving average of $40.85. The firm has a market capitalization of $61.33 billion, a PE ratio of -32.31, a P/E/G ratio of 1.73 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a one year low of $28.93 and a one year high of $47.03.

Truist Financial Dividend Announcement

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