Truist Financial Co. (NYSE:TFC) Shares Bought by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas boosted its holdings in Truist Financial Co. (NYSE:TFC) by 32.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,735 shares of the insurance provider’s stock after acquiring an additional 3,155 shares during the period. Community Bank & Trust Waco Texas’ holdings in Truist Financial were worth $545,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Capital International Investors raised its holdings in Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after buying an additional 1,609,351 shares during the last quarter. Swedbank AB acquired a new position in Truist Financial in the first quarter worth approximately $29,957,000. National Bank of Canada FI grew its position in Truist Financial by 41.8% in the first quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after buying an additional 541,037 shares during the last quarter. Finally, GW Henssler & Associates Ltd. grew its position in Truist Financial by 4,435.3% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after purchasing an additional 494,007 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $46.66 on Wednesday. The company has a 50 day moving average of $42.92 and a 200-day moving average of $41.03. 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 Co. has a 1-year low of $28.97 and a 1-year high of $47.03.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. As a group, analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.46%. Truist Financial’s dividend payout ratio is -145.45%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of research reports. Stephens reissued an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. Bank of America lifted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Wednesday, July 17th. UBS Group lifted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Argus lifted their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.02.

Truist Financial 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.