Truist Financial Co. (NYSE:TFC) Shares Acquired by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. grew its stake in Truist Financial Co. (NYSE:TFC) by 68.6% during the third quarter, HoldingsChannel reports. The firm owned 5,916 shares of the insurance provider’s stock after purchasing an additional 2,408 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Truist Financial were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TFC. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial in the third quarter valued at approximately $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the second quarter valued at approximately $31,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the third quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TFC. Wells Fargo & Company lifted their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. 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. Citigroup lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group boosted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Twelve research 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, Truist Financial currently has an average rating of “Hold” and a consensus price target of $47.17.

Truist Financial Stock Down 0.8 %

Shares of NYSE:TFC opened at $47.71 on Wednesday. The company has a market capitalization of $63.33 billion, a P/E ratio of -33.36, a P/E/G ratio of 1.97 and a beta of 1.05. The stock’s fifty day simple moving average is $43.91 and its 200-day simple moving average is $41.66. Truist Financial Co. has a 52-week low of $31.23 and a 52-week high of $49.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last released its 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. The firm 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%. As a group, equities research analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -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.