Tradewinds LLC. Increases Holdings in Truist Financial Co. (NYSE:TFC)

Tradewinds LLC. boosted its position in Truist Financial Co. (NYSE:TFC) by 0.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 44,513 shares of the insurance provider’s stock after purchasing an additional 222 shares during the period. Tradewinds LLC.’s holdings in Truist Financial were worth $1,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in Truist Financial during the 3rd quarter worth about $26,000. Crewe Advisors LLC acquired a new stake in Truist Financial during the first quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial during the second quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the second quarter valued at approximately $31,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Compass Point boosted their target price on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lowered their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.37.

Truist Financial Price Performance

NYSE:TFC opened at $46.18 on Thursday. Truist Financial Co. has a one year low of $31.23 and a one year high of $47.57. The stock has a market cap of $61.30 billion, a PE ratio of -32.29, a P/E/G ratio of 1.92 and a beta of 1.05. 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 50 day moving average price of $43.45 and a 200 day moving average price of $41.41.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.50%. Truist Financial’s payout ratio is -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.