Verity & Verity LLC Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Verity & Verity LLC lifted its holdings in Truist Financial Co. (NYSE:TFC) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 388,139 shares of the insurance provider’s stock after purchasing an additional 4,534 shares during the quarter. Truist Financial accounts for approximately 1.6% of Verity & Verity LLC’s investment portfolio, making the stock its 26th largest position. Verity & Verity LLC’s holdings in Truist Financial were worth $16,601,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Pathstone Holdings LLC grew its stake in shares of Truist Financial by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 166,827 shares of the insurance provider’s stock worth $7,135,000 after buying an additional 890 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Truist Financial by 5.7% in the third quarter. Meeder Advisory Services Inc. now owns 28,097 shares of the insurance provider’s stock worth $1,202,000 after acquiring an additional 1,527 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter worth approximately $32,000. Cassaday & Co Wealth Management LLC raised its position in Truist Financial by 24.0% during the third quarter. Cassaday & Co Wealth Management LLC now owns 13,530 shares of the insurance provider’s stock valued at $579,000 after purchasing an additional 2,617 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of Truist Financial by 81.1% in the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 2,129 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TFC. The Goldman Sachs Group lowered their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Barclays lifted their price target on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Bank of America increased their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Compass Point boosted their target price on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $46.37.

Truist Financial Trading Up 0.5 %

Shares of TFC opened at $46.79 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12 month low of $31.23 and a 12 month high of $47.57. The stock has a fifty day moving average price of $43.27 and a 200-day moving average price of $41.33.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion for 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%. On average, research analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.45%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -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.