Valmark Advisers Inc. Buys 670 Shares of Truist Financial Co. (NYSE:TFC)

Valmark Advisers Inc. grew its stake in Truist Financial Co. (NYSE:TFC) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,572 shares of the insurance provider’s stock after buying an additional 670 shares during the period. Valmark Advisers Inc.’s holdings in Truist Financial were worth $452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. State of Alaska Department of Revenue grew its position in Truist Financial by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 144,723 shares of the insurance provider’s stock worth $5,641,000 after acquiring an additional 705 shares in the last quarter. Norden Group LLC bought a new stake in Truist Financial during the first quarter worth about $2,351,000. First Trust Direct Indexing L.P. boosted its holdings in shares of Truist Financial by 33.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 39,923 shares of the insurance provider’s stock worth $1,556,000 after purchasing an additional 9,965 shares in the last quarter. American National Bank & Trust Co. VA bought a new position in shares of Truist Financial during the 1st quarter valued at about $434,000. Finally, Bray Capital Advisors raised its holdings in shares of Truist Financial by 1.4% during the 1st quarter. Bray Capital Advisors now owns 43,299 shares of the insurance provider’s stock valued at $1,688,000 after buying an additional 588 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.5 %

Shares of NYSE TFC opened at $43.31 on Thursday. The firm has a fifty day simple moving average of $42.83 and a two-hundred day simple moving average of $40.59. The firm has a market capitalization of $58.00 billion, a PE ratio of -30.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12 month low of $27.88 and a 12 month high of $45.31.

Truist Financial Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 4.80%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TFC shares. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Bank of America raised their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Twelve 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 currently has a consensus rating of “Hold” and an average price target of $46.02.

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.