Patton Albertson Miller Group LLC Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Patton Albertson Miller Group LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 2.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 27,719 shares of the insurance provider’s stock after acquiring an additional 723 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Truist Financial were worth $1,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in Truist Financial during the third quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial in the 2nd quarter valued at about $31,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the third quarter worth about $32,000. Finally, Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on TFC shares. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased 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. Royal Bank of Canada lifted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.57.

Truist Financial Stock Performance

TFC stock opened at $48.12 on Tuesday. Truist Financial Co. has a 1-year low of $31.23 and a 1-year high of $49.06. The business has a 50-day moving average price of $43.80 and a 200 day moving average price of $41.61. The company has a market capitalization of $63.88 billion, a P/E ratio of -33.65, a PEG ratio of 1.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick 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. As a group, equities research analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.32%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.