Truist Financial Co. (NYSE:TFC) Shares Sold by Swedbank AB

Swedbank AB lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 762,652 shares of the insurance provider’s stock after selling 1,246 shares during the quarter. Swedbank AB owned approximately 0.06% of Truist Financial worth $32,619,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial during the third quarter worth $26,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial during the second quarter worth about $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial in the 2nd quarter worth about $31,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the 3rd quarter valued at about $32,000. Finally, Fortitude Family Office LLC increased its stake in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Compass Point upped their price target on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average price target of $46.57.

Truist Financial Stock Up 0.3 %

Shares of NYSE TFC opened at $48.12 on Tuesday. 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 1 year low of $31.23 and a 1 year high of $49.06. The stock’s 50-day simple moving average is $43.80 and its 200-day simple moving average is $41.61. The firm has a market cap of $63.88 billion, a price-to-earnings ratio of -33.65, a PEG ratio of 1.97 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, equities analysts anticipate 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. Stockholders of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.32%. Truist Financial’s payout ratio is -145.45%.

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.