Simmons Bank Has $1.85 Million Holdings in Truist Financial Co. (NYSE:TFC)

Simmons Bank boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 359.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 43,267 shares of the insurance provider’s stock after buying an additional 33,859 shares during the period. Simmons Bank’s holdings in Truist Financial were worth $1,851,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TFC. Capital International Investors lifted its position in Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Truist Financial by 1.0% in the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after purchasing an additional 103,565 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Truist Financial Corp boosted its stake in Truist Financial by 6.7% during the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after purchasing an additional 311,523 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Truist Financial by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock valued at $136,018,000 after buying an additional 58,349 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 0.3 %

TFC stock opened at $46.51 on Thursday. The business has a fifty day moving average price of $42.97 and a 200 day moving average price of $41.09. 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 Co. has a fifty-two week low of $30.31 and a fifty-two week high of $47.57. The stock has a market capitalization of $61.74 billion, a price-to-earnings ratio of -32.52, a P/E/G ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Argus upped their price target on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their price target for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Compass Point upped their price objective on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research 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, the company presently has an average rating of “Hold” and an average target price of $46.02.

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.