AMG National Trust Bank Sells 2,665 Shares of Truist Financial Co. (NYSE:TFC)

AMG National Trust Bank decreased its position in Truist Financial Co. (NYSE:TFC) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,636 shares of the insurance provider’s stock after selling 2,665 shares during the quarter. AMG National Trust Bank’s holdings in Truist Financial were worth $6,614,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in Truist Financial in the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial during the second quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial in the second quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC grew its stake in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Truist Financial stock opened at $46.55 on Monday. The firm has a market cap of $61.80 billion, a PE ratio of -32.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05. The stock’s fifty day moving average price is $43.18 and its two-hundred day moving average price is $41.27. Truist Financial Co. has a one year low of $31.13 and a one year high of $47.57. 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 (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. As a group, research analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.47%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Morgan Stanley boosted their price objective 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. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and a consensus price target of $46.37.

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.