Truist Financial Co. (NYSE:TFC) Stock Holdings Increased by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 5.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 78,309 shares of the insurance provider’s stock after purchasing an additional 4,300 shares during the quarter. Truist Financial accounts for 1.4% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 20th largest position. Commonwealth Retirement Investments LLC’s holdings in Truist Financial were worth $3,349,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TFC. Capital International Investors increased its position in shares of Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after purchasing an additional 5,632,493 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Truist Financial by 316.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after acquiring an additional 1,609,351 shares during the last quarter. Swedbank AB acquired a new position in shares of Truist Financial in the 1st quarter worth $29,957,000. National Bank of Canada FI grew its holdings in shares of Truist Financial by 41.8% in the 1st quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after acquiring an additional 541,037 shares during the last quarter. Finally, GW Henssler & Associates Ltd. grew its holdings in shares of Truist Financial by 4,435.3% during the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock valued at $21,605,000 after buying an additional 494,007 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Compass Point lifted their price objective on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. The Goldman Sachs Group reduced their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Finally, Barclays boosted their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $46.02.

Truist Financial Price Performance

Shares of TFC traded down $0.03 during mid-day trading on Tuesday, reaching $46.41. The company had a trading volume of 669,898 shares, compared to its average volume of 8,313,277. Truist Financial Co. has a twelve month low of $28.97 and a twelve month 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 company’s 50-day moving average is $42.92 and its 200-day moving average is $41.03. The company has a market capitalization of $61.61 billion, a P/E ratio of -32.48, a P/E/G ratio of 1.86 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its 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. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. On average, equities analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend on an annualized basis and a yield of 4.48%. Truist Financial’s dividend payout ratio is -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.