Whittier Trust Co. Has $651,000 Position in Truist Financial Co. (NYSE:TFC)

Whittier Trust Co. trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 14.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,231 shares of the insurance provider’s stock after selling 2,617 shares during the quarter. Whittier Trust Co.’s holdings in Truist Financial were worth $651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Investment Counsel Inc lifted its stake in shares of Truist Financial by 0.4% in the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after acquiring an additional 244 shares during the last quarter. Burkett Financial Services LLC raised its position in Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 253 shares during the last quarter. Verum Partners LLC boosted its stake in shares of Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after purchasing an additional 261 shares in the last quarter. CX Institutional grew its holdings in shares of Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 263 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Truist Financial by 1.5% in the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after buying an additional 274 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Bank of America lifted their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Argus increased their price target on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.02.

Truist Financial Stock Performance

Shares of TFC opened at $43.44 on Thursday. The stock 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 $27.01 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.86. The company has a market cap of $58.13 billion, a PE ratio of -32.91, a P/E/G ratio of 1.83 and a beta of 1.05.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s quarterly revenue was down 15.9% on a year-over-year basis. On average, equities research analysts predict that Truist Financial Co. will post 3.57 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. Shareholders of record on Friday, November 8th will be paid 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 4.79%. Truist Financial’s dividend payout ratio (DPR) is presently -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.