Truist Financial Co. (NYSE:TFC) Shares Purchased by Arcus Capital Partners LLC

Arcus Capital Partners LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,722 shares of the insurance provider’s stock after purchasing an additional 1,196 shares during the quarter. Truist Financial accounts for 0.6% of Arcus Capital Partners LLC’s portfolio, making the stock its 28th largest position. Arcus Capital Partners LLC’s holdings in Truist Financial were worth $1,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP increased its stake in Truist Financial by 97.1% in the 1st quarter. GSA Capital Partners LLP now owns 13,191 shares of the insurance provider’s stock worth $514,000 after purchasing an additional 6,500 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of Truist Financial by 11.1% in the first quarter. Meeder Advisory Services Inc. now owns 18,792 shares of the insurance provider’s stock worth $733,000 after acquiring an additional 1,872 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Truist Financial by 10.6% during the first quarter. Russell Investments Group Ltd. now owns 230,604 shares of the insurance provider’s stock valued at $8,965,000 after acquiring an additional 22,182 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Truist Financial by 1.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 119,318 shares of the insurance provider’s stock valued at $4,651,000 after acquiring an additional 1,860 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Truist Financial by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 292,796 shares of the insurance provider’s stock valued at $11,413,000 after acquiring an additional 740 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TFC. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays upped their price target on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Compass Point raised their price objective on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and upped their target price for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Finally, Argus raised their price target on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus target price of $46.02.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $46.44 on Tuesday. The business’s 50-day simple moving average is $42.92 and its 200-day simple moving average is $41.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 52 week low of $28.97 and a 52 week high of $47.03. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of -32.48, a P/E/G ratio of 1.86 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly 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. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. As a group, equities research analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current fiscal 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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is -145.45%.

Truist Financial 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.