Ashton Thomas Securities LLC Takes $45,000 Position in Truist Financial Co. (NYSE:TFC)

Ashton Thomas Securities LLC bought a new position in Truist Financial Co. (NYSE:TFC) in the 3rd quarter, Holdings Channel.com reports. The fund bought 1,062 shares of the insurance provider’s stock, valued at approximately $45,000.

A number of other institutional investors have also bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in shares of Truist Financial by 10.6% in the first quarter. Russell Investments Group Ltd. now owns 230,604 shares of the insurance provider’s stock worth $8,965,000 after buying an additional 22,182 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Truist Financial by 13.4% during the 1st quarter. Bleakley Financial Group LLC now owns 33,902 shares of the insurance provider’s stock valued at $1,322,000 after purchasing an additional 4,012 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Truist Financial during the first quarter valued at about $443,000. Kingsview Wealth Management LLC increased its holdings in shares of Truist Financial by 9.7% in the first quarter. Kingsview Wealth Management LLC now owns 74,846 shares of the insurance provider’s stock worth $2,917,000 after purchasing an additional 6,640 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in shares of Truist Financial by 21.8% in the first quarter. HBK Sorce Advisory LLC now owns 7,765 shares of the insurance provider’s stock worth $303,000 after buying an additional 1,392 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.3 %

Shares of TFC stock opened at $46.51 on Thursday. The stock’s fifty day moving average price is $42.97 and its 200 day moving average price is $41.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a 1-year low of $30.31 and a 1-year high of $47.57. The company has a market cap of $61.74 billion, a price-to-earnings ratio of -32.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.47%. Truist Financial’s payout ratio is currently -145.45%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, July 17th. Royal Bank of Canada upped their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.