FWG Holdings LLC Trims Holdings in Truist Financial Co. (NYSE:TFC)

FWG Holdings LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 33.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,460 shares of the insurance provider’s stock after selling 2,752 shares during the period. FWG Holdings LLC’s holdings in Truist Financial were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TFC. First City Capital Management Inc. lifted its position in shares of Truist Financial by 28.9% in the third quarter. First City Capital Management Inc. now owns 14,581 shares of the insurance provider’s stock valued at $624,000 after acquiring an additional 3,272 shares in the last quarter. Verity & Verity LLC grew its holdings in Truist Financial by 1.2% during the 3rd quarter. Verity & Verity LLC now owns 388,139 shares of the insurance provider’s stock valued at $16,601,000 after buying an additional 4,534 shares in the last quarter. Pathstone Holdings LLC raised its position in shares of Truist Financial by 0.5% during the third quarter. Pathstone Holdings LLC now owns 166,827 shares of the insurance provider’s stock valued at $7,135,000 after buying an additional 890 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of 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 buying an additional 1,527 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial during the third quarter worth $32,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 0.5 %

Shares of NYSE TFC opened at $46.79 on Tuesday. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $47.57. 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 company has a market cap of $62.11 billion, a price-to-earnings ratio of -32.72, a PEG ratio of 1.91 and a beta of 1.05. The business’s 50 day moving average price is $43.27 and its 200-day moving average price is $41.33.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. On average, sell-side analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.45%. Truist Financial’s payout ratio is -145.45%.

Analysts Set New Price Targets

TFC has been the topic of several research analyst reports. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Argus boosted 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. Wells Fargo & Company raised their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group cut their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.37.

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.