Truist Financial Co. (NYSE:TFC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,451,235 shares of the insurance provider’s stock after selling 149,037 shares during the period. Charles Schwab Investment Management Inc. owned about 1.31% of Truist Financial worth $746,389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the third quarter worth $26,000. Crewe Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial during the 3rd quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the 2nd quarter valued at about $30,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Truist Financial in the 2nd quarter valued at about $31,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC opened at $46.91 on Friday. The company has a market capitalization of $62.27 billion, a price-to-earnings ratio of -32.80, a PEG ratio of 1.92 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 1 year low of $31.23 and a 1 year high of $47.57. The company’s 50 day simple moving average is $43.56 and its 200 day simple moving average is $41.45.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating 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 the consensus estimate of $5.05 billion. On average, sell-side analysts predict that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.43%. Truist Financial’s dividend payout ratio is presently -145.45%.

Wall Street Analyst Weigh In

TFC has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group dropped their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. UBS Group increased their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods raised their target price on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Truist Financial currently has an average rating of “Hold” and an average target price of $46.37.

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.