Houlihan Financial Resource Group Ltd. Purchases Shares of 4,871 Truist Financial Co. (NYSE:TFC)

Houlihan Financial Resource Group Ltd. acquired a new position in Truist Financial Co. (NYSE:TFC) during the third quarter, Holdings Channel reports. The institutional investor acquired 4,871 shares of the insurance provider’s stock, valued at approximately $208,000.

Other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC bought a new position in Truist Financial in the 1st quarter worth approximately $516,000. M&G Plc acquired a new stake in shares of Truist Financial in the second quarter worth $2,804,000. Dimensional Fund Advisors LP increased its position in Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the period. Boston Common Asset Management LLC raised its stake in Truist Financial by 66.4% during the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after purchasing an additional 61,683 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Truist Financial by 6.7% in the 1st quarter. Empowered Funds LLC now owns 71,319 shares of the insurance provider’s stock valued at $2,780,000 after purchasing an additional 4,456 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 1.0 %

TFC stock opened at $45.22 on Friday. The company has a 50 day moving average price of $42.88 and a 200 day moving average price of $40.94. Truist Financial Co. has a fifty-two week low of $28.93 and a fifty-two week high of $47.03. 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 (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Equities research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is presently -145.45%.

Analyst Ratings Changes

TFC has been the topic of several research reports. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Stephens restated an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Bank of America raised their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research 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 MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.02.

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.