Investors Research Corp Has $1.85 Million Position in Truist Financial Co. (NYSE:TFC)

Investors Research Corp trimmed its stake in Truist Financial Co. (NYSE:TFC) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,171 shares of the insurance provider’s stock after selling 308 shares during the quarter. Investors Research Corp’s holdings in Truist Financial were worth $1,846,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TFC. Banco Santander S.A. acquired a new stake in Truist Financial in the 3rd quarter valued at about $238,000. L & S Advisors Inc acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $3,280,000. Integrated Investment Consultants LLC bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $2,546,000. LPL Financial LLC increased its holdings in shares of Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after acquiring an additional 630,628 shares during the last quarter. Finally, Tradewinds LLC. lifted its holdings in Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods upped their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.37.

Truist Financial Trading Up 0.6 %

Shares of Truist Financial stock traded up $0.30 during midday trading on Thursday, reaching $46.48. The company had a trading volume of 297,824 shares, compared to its average volume of 8,272,142. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a fifty day moving average price of $43.45 and a 200 day moving average price of $41.41. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $47.57. The firm has a market cap of $61.70 billion, a PE ratio of -32.29, a P/E/G ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. On average, equities analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given 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 4.48%. Truist Financial’s dividend payout ratio is presently -145.45%.

About Truist Financial

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.