Heritage Oak Wealth Advisors LLC Makes New $280,000 Investment in Truist Financial Co. (NYSE:TFC)

Heritage Oak Wealth Advisors LLC purchased a new stake in Truist Financial Co. (NYSE:TFC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,552 shares of the insurance provider’s stock, valued at approximately $280,000.

A number of other hedge funds also recently made changes to their positions in the stock. Crewe Advisors LLC bought a new position in Truist Financial during the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial during the second quarter valued at about $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial during the second quarter worth about $31,000. Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial in the 2nd quarter worth about $38,000. Finally, Beacon Capital Management LLC lifted its position in Truist Financial by 57.4% in the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 370 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

TFC traded down $0.56 during trading on Friday, reaching $42.86. The stock had a trading volume of 1,403,444 shares, compared to its average volume of 8,259,626. 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 business has a 50-day moving average of $42.76 and a 200-day moving average of $40.41. Truist Financial Co. has a one year low of $27.38 and a one year high of $45.31. The stock has a market cap of $57.40 billion, a PE ratio of -30.36, a PEG ratio of 1.84 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue was down 15.9% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.58 EPS 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. Investors of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Bank of America increased their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Argus raised their target price on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Compass Point boosted their price target on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.02.

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.