Cobblestone Capital Advisors LLC NY Buys 339 Shares of Truist Financial Co. (NYSE:TFC)

Cobblestone Capital Advisors LLC NY grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.5% during the third quarter, HoldingsChannel reports. The firm owned 14,045 shares of the insurance provider’s stock after purchasing an additional 339 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Truist Financial were worth $601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TFC. Tradewinds LLC. boosted its position in Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after acquiring an additional 222 shares in the last quarter. Capital Investment Counsel Inc boosted its position in shares of Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after purchasing an additional 244 shares in the last quarter. Burkett Financial Services LLC grew its stake in Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 253 shares during the period. Verum Partners LLC raised its holdings in Truist Financial by 2.5% in the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after purchasing an additional 261 shares in the last quarter. Finally, CX Institutional lifted its position in Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after buying an additional 263 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TFC. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group lifted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Truist Financial has an average rating of “Hold” and a consensus target price of $47.17.

Truist Financial Trading Down 0.1 %

NYSE:TFC opened at $47.68 on Monday. The company has a market cap of $63.30 billion, a PE ratio of -33.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.05. 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 50 day simple moving average of $44.23 and a two-hundred day simple moving average of $41.84. Truist Financial Co. has a 12 month low of $31.96 and a 12 month high of $49.06.

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

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

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.