Truist Financial Co. (NYSE:TFC) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC cut its stake in Truist Financial Co. (NYSE:TFC) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,657 shares of the insurance provider’s stock after selling 220 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Truist Financial were worth $1,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. lifted its stake in Truist Financial by 10.1% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,636 shares of the insurance provider’s stock valued at $1,524,000 after acquiring an additional 3,283 shares during the period. Metis Global Partners LLC lifted its stake in Truist Financial by 3.4% during the 3rd quarter. Metis Global Partners LLC now owns 54,232 shares of the insurance provider’s stock valued at $2,320,000 after acquiring an additional 1,772 shares during the period. Huntington National Bank lifted its stake in Truist Financial by 1.3% during the 3rd quarter. Huntington National Bank now owns 69,766 shares of the insurance provider’s stock valued at $2,984,000 after acquiring an additional 897 shares during the period. Freemont Management S.A. acquired a new stake in Truist Financial during the 3rd quarter valued at approximately $2,498,000. Finally, Plato Investment Management Ltd lifted its stake in Truist Financial by 94.6% during the 3rd quarter. Plato Investment Management Ltd now owns 12,721 shares of the insurance provider’s stock valued at $544,000 after acquiring an additional 6,184 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Truist Financial stock opened at $46.25 on Friday. Truist Financial Co. has a 52-week low of $31.12 and a 52-week high of $47.57. The company has a fifty day simple moving average of $43.03 and a 200-day simple moving average of $41.13. 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 (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. As a group, sell-side analysts predict that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Compass Point lifted their price objective on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Argus boosted their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Barclays boosted 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 note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted 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. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.02.

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.