Ferguson Wellman Capital Management Inc. Has $221,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Ferguson Wellman Capital Management Inc. lowered its holdings in shares of Truist Financial Co. (NYSE:TFC) by 35.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,158 shares of the insurance provider’s stock after selling 2,853 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Truist Financial were worth $221,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Capital International Investors boosted its holdings in Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after acquiring an additional 1,609,351 shares during the period. Swedbank AB bought a new stake in Truist Financial during the first quarter worth $29,957,000. National Bank of Canada FI lifted its holdings in Truist Financial by 41.8% during the first quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after acquiring an additional 541,037 shares during the period. Finally, GW Henssler & Associates Ltd. lifted its holdings in Truist Financial by 4,435.3% during the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after acquiring an additional 494,007 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.25 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $43.03 and a two-hundred day moving average price of $41.13. Truist Financial Co. has a 12-month low of $31.12 and a 12-month high of $47.57.

Truist Financial (NYSE:TFC) last issued its quarterly 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 positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Research analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.50%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent research reports. Argus raised their target price on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group decreased their target price 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. Bank of America raised their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Compass Point lifted their price target on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.02.

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.