TCV Trust & Wealth Management Inc. Has $847,000 Stake in Truist Financial Co. (NYSE:TFC)

TCV Trust & Wealth Management Inc. boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,811 shares of the insurance provider’s stock after buying an additional 453 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Truist Financial were worth $847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the 2nd quarter valued at $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial in the 2nd quarter worth about $31,000. Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial during the 2nd quarter worth about $38,000. Finally, Beacon Capital Management LLC lifted its holdings in Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC opened at $42.63 on Friday. The company has a fifty day simple moving average of $42.79 and a 200 day simple moving average of $40.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market cap of $57.04 billion, a P/E ratio of -32.30, a P/E/G ratio of 1.84 and a beta of 1.05. Truist Financial Co. has a 12 month low of $27.38 and a 12 month high of $45.31.

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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analysts Set New Price Targets

TFC has been the topic of several research analyst reports. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Compass Point boosted their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Truist Financial 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.