Truist Financial Co. (NYSE:TFC) Shares Sold by Caprock Group LLC

Caprock Group LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,803 shares of the insurance provider’s stock after selling 266 shares during the quarter. Caprock Group LLC’s holdings in Truist Financial were worth $1,660,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of TFC. UniSuper Management Pty Ltd boosted its position in Truist Financial by 1,117.2% during the first quarter. UniSuper Management Pty Ltd now owns 23,552 shares of the insurance provider’s stock worth $918,000 after acquiring an additional 21,617 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Truist Financial by 44.2% in the 1st quarter. Lake Street Advisors Group LLC now owns 8,299 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 2,544 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Truist Financial in the 1st quarter valued at $27,000. EntryPoint Capital LLC acquired a new position in shares of Truist Financial in the 1st quarter valued at $110,000. Finally, Delap Wealth Advisory LLC acquired a new position in shares of Truist Financial in the 1st quarter valued at $202,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC opened at $46.18 on Thursday. The company has a 50-day moving average of $43.45 and a 200-day moving average of $41.41. The company has a market capitalization of $61.30 billion, a P/E ratio of -32.29, a PEG ratio of 1.91 and a beta of 1.05. Truist Financial Co. has a 1-year low of $31.23 and a 1-year 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.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results 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 negative net margin of 4.89% and a positive return on equity of 9.35%. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Equities analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Ratings Changes

TFC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada raised their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. Finally, Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.