Huntington National Bank Buys 897 Shares of Truist Financial Co. (NYSE:TFC)

Huntington National Bank lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,766 shares of the insurance provider’s stock after purchasing an additional 897 shares during the quarter. Huntington National Bank’s holdings in Truist Financial were worth $2,984,000 as of its most recent SEC filing.

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

Truist Financial Trading Up 0.6 %

NYSE:TFC opened at $46.54 on Friday. The company has a fifty day moving average of $43.09 and a 200 day moving average of $41.16. Truist Financial Co. has a 52 week low of $31.13 and a 52 week high of $47.57. The firm has a market capitalization of $61.78 billion, a P/E ratio of -32.54, a P/E/G 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.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. On average, research analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TFC shares. Compass Point lifted their price target on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. UBS Group boosted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Finally, Barclays increased their target price on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus 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.