Verity & Verity LLC Buys 4,534 Shares of Truist Financial Co. (NYSE:TFC)

Verity & Verity LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388,139 shares of the insurance provider’s stock after acquiring an additional 4,534 shares during the quarter. Truist Financial comprises approximately 1.6% of Verity & Verity LLC’s portfolio, making the stock its 26th biggest position. Verity & Verity LLC’s holdings in Truist Financial were worth $16,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in shares of Truist Financial in the first quarter worth approximately $344,000. O Shaughnessy Asset Management LLC raised its holdings in Truist Financial by 46.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 111,963 shares of the insurance provider’s stock worth $4,364,000 after acquiring an additional 35,636 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in Truist Financial by 1,117.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 23,552 shares of the insurance provider’s stock valued at $918,000 after purchasing an additional 21,617 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in Truist Financial by 44.2% during the 1st quarter. Lake Street Advisors Group LLC now owns 8,299 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 2,544 shares during the last quarter. Finally, National Bank of Canada FI increased 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 purchasing an additional 541,037 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of a number of research analyst reports. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Stock Performance

NYSE TFC opened at $46.79 on Tuesday. 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 Co. has a twelve month low of $31.23 and a twelve month high of $47.57. The business has a 50-day moving average price of $43.27 and a 200-day moving average price of $41.33.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Equities analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. 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 4.45%. Truist Financial’s dividend payout ratio is currently -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.