Thompson Siegel & Walmsley LLC Sells 466 Shares of Truist Financial Co. (NYSE:TFC)

Thompson Siegel & Walmsley LLC trimmed its position in Truist Financial Co. (NYSE:TFC) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,921 shares of the insurance provider’s stock after selling 466 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Truist Financial were worth $2,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TFC. CreativeOne Wealth LLC bought a new stake in shares of Truist Financial in the first quarter valued at approximately $516,000. 1832 Asset Management L.P. raised its holdings in Truist Financial by 57.1% in the 1st quarter. 1832 Asset Management L.P. now owns 497,373 shares of the insurance provider’s stock valued at $19,388,000 after acquiring an additional 180,745 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Truist Financial during the 1st quarter valued at $115,000. BOKF NA grew its holdings in shares of Truist Financial by 1,680.4% during the 1st quarter. BOKF NA now owns 272,062 shares of the insurance provider’s stock worth $10,439,000 after purchasing an additional 256,781 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Truist Financial by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock worth $136,018,000 after purchasing an additional 58,349 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TFC. Morgan Stanley upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. The Goldman Sachs Group decreased their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. 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, the company has an average rating of “Hold” and an average target price of $46.37.

Truist Financial Stock Up 2.5 %

Shares of NYSE TFC opened at $47.96 on Friday. The firm has a 50 day moving average price of $43.68 and a two-hundred day moving average price of $41.51. 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 Co. has a 52-week low of $31.23 and a 52-week high of $48.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Analysts forecast 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. Investors of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

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.