F M Investments LLC Acquires 146,703 Shares of Truist Financial Co. (NYSE:TFC)

F M Investments LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 214.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 214,970 shares of the insurance provider’s stock after purchasing an additional 146,703 shares during the period. F M Investments LLC’s holdings in Truist Financial were worth $9,175,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Investment Counsel Inc lifted its stake in Truist Financial by 0.4% during the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after acquiring an additional 244 shares in the last quarter. Burkett Financial Services LLC lifted its position in shares of Truist Financial by 26.8% during the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 253 shares in the last quarter. Verum Partners LLC boosted its holdings in Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after purchasing an additional 261 shares during the last quarter. CX Institutional grew its position in Truist Financial by 3.4% in the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 263 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Truist Financial by 1.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after buying an additional 274 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TFC. Barclays upped their target price on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group lowered their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Compass Point lifted their price objective on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, UBS Group raised their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Trading Down 0.5 %

Shares of NYSE:TFC traded down $0.23 on Friday, reaching $42.82. 6,286,110 shares of the company traded hands, compared to its average volume of 8,094,859. Truist Financial Co. has a 52 week low of $28.84 and a 52 week high of $45.31. The business’s 50-day simple moving average is $42.84 and its 200 day simple moving average is $40.65. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.86%. Truist Financial’s payout ratio is presently -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.