Truist Financial Co. (NYSE:TFC) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFCFree Report) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,963 shares of the insurance provider’s stock after selling 1,263 shares during the period. Montag A & Associates Inc.’s holdings in Truist Financial were worth $4,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of TFC. Fairfield Bush & CO. bought a new stake in Truist Financial in the first quarter valued at about $25,000. OFI Invest Asset Management bought a new stake in Truist Financial in the third quarter worth about $26,000. JFS Wealth Advisors LLC raised its holdings in shares of Truist Financial by 617.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 968 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 833 shares in the last quarter. Quarry LP bought a new stake in shares of Truist Financial during the 1st quarter worth $32,000. Finally, Union Savings Bank purchased a new position in Truist Financial in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 71.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TFC. Odeon Capital Group upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target for the company in a report on Thursday, December 14th. UBS Group upped their price target on Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Raymond James raised their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Barclays lifted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average price target of $39.87.

Read Our Latest Research Report on Truist Financial

Truist Financial Stock Up 0.5 %

TFC traded up $0.17 during midday trading on Monday, reaching $36.01. 6,792,750 shares of the company were exchanged, compared to its average volume of 10,093,100. The company’s fifty day moving average price is $36.44 and its 200 day moving average price is $32.14. Truist Financial Co. has a one year low of $25.56 and a one year high of $49.32. The company has a market cap of $48.03 billion, a price-to-earnings ratio of -33.56, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFCGet Free Report) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period last year, the firm posted $1.30 EPS. As a group, analysts expect that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.78%. Truist Financial’s payout ratio is -192.59%.

Truist Financial Profile

(Free Report)

Truist Financial Corporation, a holding 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.

Further Reading

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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