Infrastructure Capital Advisors LLC Buys Shares of 25,197 Truist Financial Co. (NYSE:TFC)

Infrastructure Capital Advisors LLC bought a new stake in Truist Financial Co. (NYSE:TFC) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 25,197 shares of the insurance provider’s stock, valued at approximately $1,078,000.

A number of other large investors have also recently modified their holdings of TFC. Assenagon Asset Management S.A. lifted its stake in shares of Truist Financial by 316.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after acquiring an additional 1,609,351 shares during the last quarter. Swedbank AB bought a new position in Truist Financial during the 1st quarter worth $29,957,000. LPL Financial LLC raised its position in shares of Truist Financial by 21.0% in 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 in the last quarter. GW Henssler & Associates Ltd. raised its position in shares of Truist Financial by 4,435.3% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after acquiring an additional 494,007 shares in the last quarter. Finally, FMR LLC raised its position in shares of Truist Financial by 10.6% in the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock worth $213,983,000 after acquiring an additional 478,886 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TFC shares. The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.17.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.75 on Friday. The company’s fifty day simple moving average is $44.13 and its two-hundred day simple moving average is $41.75. 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 1 year low of $31.23 and a 1 year high of $49.06.

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

Truist Financial Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.36%. Truist Financial’s payout ratio is -145.45%.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Company 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.