Pathstone Holdings LLC Increases Holdings in Truist Financial Co. (NYSE:TFC)

Pathstone Holdings LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,827 shares of the insurance provider’s stock after acquiring an additional 890 shares during the quarter. Pathstone Holdings LLC’s holdings in Truist Financial were worth $7,135,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after purchasing an additional 1,609,351 shares during the last quarter. Swedbank AB bought a new position in shares of Truist Financial during the 1st quarter valued at $29,957,000. GW Henssler & Associates Ltd. boosted its stake in shares of Truist Financial by 4,435.3% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after buying an additional 494,007 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of Truist Financial in the third quarter worth $19,860,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Truist Financial during the second quarter valued at $16,978,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Trading Up 1.6 %

TFC opened at $46.91 on Friday. Truist Financial Co. has a 12 month low of $31.23 and a 12 month high of $47.57. The stock has a fifty day moving average price of $43.56 and a 200-day moving average price of $41.45. The firm has a market cap of $62.27 billion, a price-to-earnings ratio of -32.80, a PEG ratio of 1.92 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 (NYSE:TFC) last released 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. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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 issued 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 4.43%. Truist Financial’s dividend payout ratio is presently -145.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TFC. Compass Point increased their price objective on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Morgan Stanley raised 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. Royal Bank of Canada upped their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price 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. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.37.

Truist Financial Company 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.