Certified Advisory Corp Acquires 1,487 Shares of Truist Financial Co. (NYSE:TFC)

Certified Advisory Corp boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 6.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,742 shares of the insurance provider’s stock after buying an additional 1,487 shares during the quarter. Certified Advisory Corp’s holdings in Truist Financial were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Waddell & Associates LLC bought a new position in shares of Truist Financial in the third quarter worth approximately $246,000. Nwam LLC bought a new position in Truist Financial in the 3rd quarter worth $348,000. Meridian Wealth Management LLC increased its stake in Truist Financial by 1.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 21,733 shares of the insurance provider’s stock worth $930,000 after buying an additional 280 shares in the last quarter. Banco Santander S.A. bought a new stake in Truist Financial during the third quarter valued at about $238,000. Finally, L & S Advisors Inc purchased a new position in shares of Truist Financial in the third quarter valued at about $3,280,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Finally, The Goldman Sachs Group cut their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.37.

Truist Financial Price Performance

Truist Financial stock opened at $47.96 on Friday. Truist Financial Co. has a 12-month low of $31.23 and a 12-month high of $48.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $43.68 and a 200-day moving average price of $41.53. The firm has a market capitalization of $63.67 billion, a PE ratio of -33.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.05 billion. As a group, equities research analysts forecast that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

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

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.