Coerente Capital Management Purchases 1,812 Shares of Truist Financial Co. (NYSE:TFC)

Coerente Capital Management raised its position in Truist Financial Co. (NYSE:TFC) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 299,739 shares of the insurance provider’s stock after buying an additional 1,812 shares during the quarter. Truist Financial comprises about 2.4% of Coerente Capital Management’s portfolio, making the stock its 19th largest position. Coerente Capital Management’s holdings in Truist Financial were worth $12,820,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TFC. Norden Group LLC bought a new stake in shares of Truist Financial during the 1st quarter valued at approximately $2,351,000. Nordea Investment Management AB grew its holdings in shares of Truist Financial by 44.4% during the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after purchasing an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in shares of Truist Financial during the 1st quarter valued at approximately $516,000. M&G Plc bought a new stake in shares of Truist Financial during the 2nd quarter valued at approximately $2,804,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after purchasing an additional 299,196 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Down 0.0 %

Shares of TFC stock opened at $43.42 on Friday. Truist Financial Co. has a 52-week low of $27.01 and a 52-week high of $45.31. The company has a 50-day simple moving average of $42.76 and a two-hundred day simple moving average of $40.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $58.15 billion, a price-to-earnings ratio of -30.36, a PEG ratio of 1.84 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the business posted $0.95 earnings per share. Truist Financial’s revenue was down 15.9% on a year-over-year basis. Research analysts anticipate that Truist Financial Co. will post 3.58 EPS for the current fiscal 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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Analyst Ratings Changes

Several brokerages recently issued reports on TFC. Argus lifted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reduced their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. 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. Barclays boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.02.

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.