Truist Financial Co. (NYSE:TFC) Shares Bought by Empowered Funds LLC

Empowered Funds LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 155.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 198,158 shares of the insurance provider’s stock after purchasing an additional 120,706 shares during the quarter. Empowered Funds LLC’s holdings in Truist Financial were worth $8,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFC. Crewe Advisors LLC bought a new position in Truist Financial in the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the second quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial during the 2nd quarter valued at $31,000. Fortitude Family Office LLC increased its position in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Truist Financial in the 2nd quarter worth $38,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.6 %

TFC opened at $46.54 on Friday. The stock has a market capitalization of $61.78 billion, a price-to-earnings ratio of -32.54, a PEG ratio of 1.91 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average price of $43.18 and a 200-day moving average price of $41.22. Truist Financial Co. has a twelve month low of $31.13 and a twelve month high of $47.57.

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, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Equities research analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TFC. Bank of America raised their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group reduced their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their price target for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. 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, Truist Financial has a consensus rating of “Hold” and an average target price of $46.37.

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.