Metis Global Partners LLC Buys 1,772 Shares of Truist Financial Co. (NYSE:TFC)

Metis Global Partners LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.4% during the third quarter, Holdings Channel reports. The institutional investor owned 54,232 shares of the insurance provider’s stock after purchasing an additional 1,772 shares during the quarter. Metis Global Partners LLC’s holdings in Truist Financial were worth $2,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TFC. Crewe Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the second quarter worth about $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Truist Financial during the second quarter worth about $31,000. Fortitude Family Office LLC boosted its holdings in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Truist Financial during the second quarter worth about $38,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 0.6 %

Shares of Truist Financial stock opened at $46.54 on Friday. The company’s fifty day simple moving average is $43.09 and its 200-day simple moving average is $41.16. The stock has a market capitalization of $61.78 billion, a PE ratio of -32.54, a P/E/G ratio of 1.91 and a beta of 1.05. Truist Financial Co. has a 1-year low of $31.13 and a 1-year high of $47.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

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, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations 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 analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

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 paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TFC. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Royal Bank of Canada raised their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Barclays raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.37.

About Truist Financial

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.