9,139 Shares in Truist Financial Co. (NYSE:TFC) Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new position in shares of Truist Financial Co. (NYSE:TFC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,139 shares of the insurance provider’s stock, valued at approximately $397,000.

Other hedge funds have also bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in shares of Truist Financial in the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the second quarter worth $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial during the second quarter valued at $31,000. Hobbs Group Advisors LLC bought a new position in shares of Truist Financial during the second quarter valued at $38,000. Finally, Beacon Capital Management LLC raised its position in shares of Truist Financial by 57.4% in the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $43.04 on Friday. The stock has a 50-day simple moving average of $42.86 and a two-hundred day simple moving average of $40.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 52-week low of $27.88 and a 52-week high of $45.31. The firm has a market capitalization of $57.64 billion, a PE ratio of -30.10, a P/E/G ratio of 1.77 and a beta of 1.05.

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 paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group decreased their price objective 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. Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Bank of America boosted their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.02.

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.