CENTRAL TRUST Co Cuts Stock Position in Truist Financial Co. (NYSE:TFC)

CENTRAL TRUST Co trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 18.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,661 shares of the insurance provider’s stock after selling 1,252 shares during the quarter. CENTRAL TRUST Co’s holdings in Truist Financial were worth $242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Investment Counsel Inc increased its position in shares of Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after purchasing an additional 244 shares in the last quarter. Burkett Financial Services LLC boosted its stake in Truist Financial by 26.8% during the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 253 shares during the last quarter. Verum Partners LLC grew its holdings 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 worth $411,000 after buying an additional 261 shares in the last quarter. CX Institutional raised its position in shares of Truist Financial by 3.4% in the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after buying an additional 263 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted 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 worth $722,000 after buying an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TFC. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Argus lifted their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Bank of America upped their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. 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 report on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Truist Financial currently has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Price Performance

TFC opened at $42.63 on Friday. The stock’s 50-day moving average price is $42.79 and its 200 day moving average price is $40.46. Truist Financial Co. has a 12-month low of $27.38 and a 12-month high of $45.31. The firm has a market cap of $57.04 billion, a price-to-earnings ratio of -32.30, a PEG ratio of 1.84 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial Announces Dividend

The firm 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -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.