Community Trust & Investment Co. Has $841,000 Stake in Truist Financial Co. (NYSE:TFC)

Community Trust & Investment Co. grew its holdings in Truist Financial Co. (NYSE:TFC) by 34.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,671 shares of the insurance provider’s stock after purchasing an additional 5,000 shares during the period. Community Trust & Investment Co.’s holdings in Truist Financial were worth $841,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Truist Financial in the first quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the second quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the second quarter worth approximately $31,000. Hobbs Group Advisors LLC acquired a new position in Truist Financial in the second quarter worth approximately $38,000. Finally, Beacon Capital Management LLC increased its holdings in Truist Financial by 57.4% in the first quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TFC. JPMorgan Chase & Co. increased 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. UBS Group increased their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Compass Point increased their price target on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, Barclays increased their price target on Truist Financial from $43.00 to $47.00 and gave the company 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.02.

Insider Buying and Selling

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Up 2.3 %

Shares of TFC stock opened at $43.39 on Wednesday. The stock has a market cap of $58.06 billion, a P/E ratio of -32.87, a price-to-earnings-growth ratio of 1.83 and a beta of 1.05. Truist Financial Co. has a one year low of $26.95 and a one year high of $45.31. The stock has a fifty day moving average price of $42.73 and a 200 day moving average price of $40.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Truist Financial’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. Analysts predict that Truist Financial Co. will post 3.57 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.79%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

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.