Centaurus Financial Inc. Buys 3,559 Shares of Truist Financial Co. (NYSE:TFC)

Centaurus Financial Inc. raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 28.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,168 shares of the insurance provider’s stock after purchasing an additional 3,559 shares during the period. Centaurus Financial Inc.’s holdings in Truist Financial were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the 3rd quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial in the third quarter valued at $32,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the second quarter worth $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial during the second quarter valued at $31,000. Finally, Fortitude Family Office LLC lifted its position in Truist Financial by 376.7% during 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 last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Wells Fargo & Company raised their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, 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 report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.57.

Truist Financial Trading Up 0.3 %

NYSE TFC opened at $48.12 on Tuesday. Truist Financial Co. has a one year low of $31.23 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $63.88 billion, a price-to-earnings ratio of -33.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. The company’s 50-day simple moving average is $43.80 and its two-hundred day simple moving average is $41.61.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

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.