Catalyst Capital Advisors LLC Makes New Investment in Truist Financial Co. (NYSE:TFC)

Catalyst Capital Advisors LLC purchased a new stake in Truist Financial Co. (NYSE:TFC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,861 shares of the insurance provider’s stock, valued at approximately $165,000.

Several other large investors have also modified their holdings of the business. CreativeOne Wealth LLC bought a new stake in Truist Financial during the 1st quarter valued at $516,000. M&G Plc bought a new position in Truist Financial in the second quarter worth about $2,804,000. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $346,957,000 after buying an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC boosted its holdings in shares of Truist Financial by 66.4% in 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 buying an additional 61,683 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Truist Financial by 6.7% in the 1st quarter. Empowered Funds LLC now owns 71,319 shares of the insurance provider’s stock worth $2,780,000 after buying an additional 4,456 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of analyst reports. Barclays increased their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Morgan Stanley raised their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Wednesday, July 17th. Bank of America increased their price target 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, Keefe, Bruyette & Woods boosted their price target on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Trading Up 0.6 %

Shares of NYSE:TFC opened at $42.32 on Wednesday. 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 $28.93 and a 12-month high of $45.31. The business has a 50 day moving average of $42.76 and a two-hundred day moving average of $40.81. The company has a market capitalization of $56.67 billion, a PE ratio of -29.59, a PEG ratio of 1.77 and a beta of 1.05.

Truist Financial Announces Dividend

The company 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 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

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.