Camden National Bank Sells 992 Shares of Truist Financial Co. (NYSE:TFC)

Camden National Bank lowered its position in Truist Financial Co. (NYSE:TFC) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,837 shares of the insurance provider’s stock after selling 992 shares during the quarter. Camden National Bank’s holdings in Truist Financial were worth $2,901,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TFC. CreativeOne Wealth LLC purchased a new position in Truist Financial in the first quarter worth $516,000. 1832 Asset Management L.P. increased its position in shares of Truist Financial by 57.1% during the 1st quarter. 1832 Asset Management L.P. now owns 497,373 shares of the insurance provider’s stock valued at $19,388,000 after purchasing an additional 180,745 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Truist Financial during the 1st quarter valued at about $115,000. BOKF NA boosted its stake in Truist Financial by 1,680.4% in the first quarter. BOKF NA now owns 272,062 shares of the insurance provider’s stock worth $10,439,000 after buying an additional 256,781 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Truist Financial by 1.7% during the first 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 during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TFC. Royal Bank of Canada upped their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, UBS Group lifted their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and a consensus target price of $46.37.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.96 on Friday. 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’s fifty day moving average price is $43.68 and its 200-day moving average price is $41.51. Truist Financial Co. has a 12 month low of $31.23 and a 12 month high of $48.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Equities analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

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.