Legacy Capital Wealth Partners LLC Acquires 20,318 Shares of Truist Financial Co. (NYSE:TFC)

Legacy Capital Wealth Partners LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 93.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,984 shares of the insurance provider’s stock after acquiring an additional 20,318 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Truist Financial were worth $1,796,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TFC. Crewe Advisors LLC acquired a new position in shares of Truist Financial in the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial in the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the 2nd quarter worth approximately $31,000. Fortitude Family Office LLC lifted its position in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Truist Financial during the 2nd quarter valued at $38,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Down 1.0 %

NYSE TFC opened at $45.22 on Friday. Truist Financial Co. has a 1 year low of $28.93 and a 1 year high of $47.03. 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 company has a fifty day moving average price of $42.88 and a 200-day moving average price of $40.94.

Truist Financial (NYSE:TFC) last posted its earnings results 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 firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on TFC. Bank of America boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays boosted 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. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their target price for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.02.

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.