Loudon Investment Management LLC Lowers Position in Truist Financial Co. (NYSE:TFC)

Loudon Investment Management LLC decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,427 shares of the insurance provider’s stock after selling 2,200 shares during the period. Truist Financial comprises 2.9% of Loudon Investment Management LLC’s portfolio, making the stock its 8th largest holding. Loudon Investment Management LLC’s holdings in Truist Financial were worth $5,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Capital Investment Counsel Inc grew its position in shares of Truist Financial by 0.4% during the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after acquiring an additional 244 shares during the period. Burkett Financial Services LLC increased its position in Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after buying an additional 253 shares in the last quarter. Verum Partners LLC raised its stake in Truist Financial by 2.5% during the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after acquiring an additional 261 shares during the period. CX Institutional lifted its holdings in Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 263 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in Truist Financial by 1.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 2.3 %

Shares of TFC traded up $1.04 during trading hours on Monday, reaching $46.26. 748,543 shares of the company traded hands, compared to its average volume of 8,314,042. The firm has a market cap of $61.41 billion, a price-to-earnings ratio of -31.62, a PEG ratio of 1.86 and a beta of 1.05. Truist Financial Co. has a 12-month low of $28.97 and a 12-month high of $47.03. The stock’s fifty day moving average price is $42.88 and its 200 day moving average price is $40.97. 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 (NYSE:TFC) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business 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%. 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 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Compass Point lifted their target price on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. UBS Group boosted their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Twelve equities research 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 has an average rating of “Hold” and a consensus price target of $46.02.

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.