Crossmark Global Holdings Inc. Sells 11,825 Shares of Truist Financial Co. (NYSE:TFC)

Crossmark Global Holdings Inc. decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,375 shares of the insurance provider’s stock after selling 11,825 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Truist Financial were worth $2,924,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Truist Financial by 332.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,210 shares of the insurance provider’s stock worth $52,000 after acquiring an additional 930 shares in the last quarter. Colonial River Investments LLC acquired a new stake in shares of Truist Financial in the 3rd quarter valued at $364,000. Legacy Capital Wealth Partners LLC boosted its holdings in shares of Truist Financial by 93.8% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 41,984 shares of the insurance provider’s stock valued at $1,796,000 after purchasing an additional 20,318 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Truist Financial by 10.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 77,758 shares of the insurance provider’s stock worth $3,326,000 after buying an additional 7,376 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Truist Financial by 5.7% during the 3rd quarter. Sigma Planning Corp now owns 20,467 shares of the insurance provider’s stock worth $875,000 after buying an additional 1,106 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFC has been the subject of several research analyst reports. Argus boosted their target price on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. 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. Barclays raised their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. 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 report on Friday, October 18th. Finally, UBS Group raised their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Up 2.7 %

Shares of NYSE:TFC opened at $46.44 on Tuesday. Truist Financial Co. has a 1 year low of $28.97 and a 1 year high of $47.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50-day moving average is $42.88 and its 200-day moving average is $40.97. The company has a market capitalization of $61.65 billion, a price-to-earnings ratio of -32.48, a P/E/G ratio of 1.86 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Equities research analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current 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 issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.48%. Truist Financial’s dividend payout ratio is currently -145.45%.

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.