Citizens Financial Group Inc. RI Purchases 938 Shares of Truist Financial Co. (NYSE:TFC)

Citizens Financial Group Inc. RI lifted its position in Truist Financial Co. (NYSE:TFC) by 10.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,548 shares of the insurance provider’s stock after buying an additional 938 shares during the period. Citizens Financial Group Inc. RI’s holdings in Truist Financial were worth $408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TFC. LRI Investments LLC bought a new position in shares of Truist Financial during the first quarter valued at approximately $115,000. Price T Rowe Associates Inc. MD boosted its position in Truist Financial by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock valued at $136,018,000 after acquiring an additional 58,349 shares in the last quarter. SVB Wealth LLC increased its holdings in shares of Truist Financial by 31.5% in the 1st quarter. SVB Wealth LLC now owns 27,379 shares of the insurance provider’s stock valued at $1,067,000 after acquiring an additional 6,552 shares during the period. Waverly Advisors LLC raised its position in shares of Truist Financial by 1.9% in the 1st quarter. Waverly Advisors LLC now owns 58,234 shares of the insurance provider’s stock worth $2,270,000 after acquiring an additional 1,112 shares in the last quarter. Finally, BlueMar Capital Management LLC purchased a new stake in shares of Truist Financial during the 1st quarter worth $546,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

NYSE:TFC opened at $47.96 on Friday. The firm’s fifty day moving average is $43.68 and its two-hundred day moving average is $41.53. The firm has a market cap of $63.67 billion, a price-to-earnings ratio of -33.54, 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 one year low of $31.23 and a one year high of $48.06.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for 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%. Research analysts expect 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. 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 dividend on an annualized basis and a dividend yield of 4.34%. Truist Financial’s payout ratio is -145.45%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Stephens reiterated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. JPMorgan Chase & Co. raised 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. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company increased their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.