First County Bank CT Has $797,000 Stake in Truist Financial Co. (NYSE:TFC)

First County Bank CT lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 21.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,623 shares of the insurance provider’s stock after selling 5,119 shares during the period. First County Bank CT’s holdings in Truist Financial were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Valley Wealth Managers Inc. acquired a new stake in Truist Financial during the third quarter worth about $26,000. Crewe Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial during the second quarter valued at approximately $31,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter worth $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

TFC stock opened at $46.91 on Friday. 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 company’s 50-day moving average is $43.56 and its 200-day moving average is $41.45. The stock has a market capitalization of $62.27 billion, a PE ratio of -32.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05. Truist Financial Co. has a 1 year low of $31.23 and a 1 year high of $47.57.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 annualized dividend and a yield of 4.43%. Truist Financial’s payout ratio is -145.45%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Royal Bank of Canada increased their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Morgan Stanley upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Compass Point raised their target price on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.37.

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.