Truist Financial Co. (NYSE:TFC) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its position in Truist Financial Co. (NYSE:TFC) by 155.8% during the third quarter, HoldingsChannel reports. The firm owned 198,158 shares of the insurance provider’s stock after purchasing an additional 120,706 shares during the period. Empowered Funds LLC’s holdings in Truist Financial were worth $8,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TFC. Russell Investments Group Ltd. lifted its holdings in Truist Financial by 10.6% during the 1st quarter. Russell Investments Group Ltd. now owns 230,604 shares of the insurance provider’s stock worth $8,965,000 after buying an additional 22,182 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in Truist Financial by 21.8% in the first quarter. HBK Sorce Advisory LLC now owns 7,765 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 1,392 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Truist Financial by 2.2% in the first quarter. Orion Portfolio Solutions LLC now owns 99,232 shares of the insurance provider’s stock worth $3,868,000 after acquiring an additional 2,158 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in Truist Financial by 6.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 13,006 shares of the insurance provider’s stock valued at $507,000 after buying an additional 766 shares during the last quarter. Finally, Nicolet Advisory Services LLC boosted its holdings in shares of Truist Financial by 42.1% in the 1st quarter. Nicolet Advisory Services LLC now owns 13,553 shares of the insurance provider’s stock valued at $528,000 after buying an additional 4,017 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.6 %

Shares of NYSE TFC opened at $46.54 on Friday. 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 stock has a market cap of $61.78 billion, a PE ratio of -32.54, a PEG ratio of 1.91 and a beta of 1.05. Truist Financial Co. has a 52-week low of $31.13 and a 52-week high of $47.57. The business has a fifty day moving average of $43.18 and a two-hundred day moving average of $41.22.

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

Truist Financial Dividend Announcement

The firm 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Ratings Changes

Several brokerages recently issued reports on TFC. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Compass Point raised their price target on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted 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. Finally, Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their price objective for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average target price of $46.37.

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.