AMG National Trust Bank Reduces Stock Holdings in Truist Financial Co. (NYSE:TFC)

AMG National Trust Bank lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.7% in the third quarter, Holdings Channel.com reports. The firm owned 154,636 shares of the insurance provider’s stock after selling 2,665 shares during the period. AMG National Trust Bank’s holdings in Truist Financial were worth $6,614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in Truist Financial by 10.6% during the 1st quarter. Russell Investments Group Ltd. now owns 230,604 shares of the insurance provider’s stock valued at $8,965,000 after acquiring an additional 22,182 shares during the period. Intech Investment Management LLC bought a new stake in Truist Financial in the 1st quarter worth approximately $344,000. Resurgent Financial Advisors LLC increased its position in Truist Financial by 53.3% during the first quarter. Resurgent Financial Advisors LLC now owns 5,945 shares of the insurance provider’s stock valued at $232,000 after acquiring an additional 2,067 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Truist Financial by 46.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 111,963 shares of the insurance provider’s stock valued at $4,364,000 after purchasing an additional 35,636 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its holdings in Truist Financial by 1,117.2% during the first quarter. UniSuper Management Pty Ltd now owns 23,552 shares of the insurance provider’s stock valued at $918,000 after buying an additional 21,617 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.55 on Monday. The company has a market capitalization of $61.80 billion, a P/E ratio of -32.55, a P/E/G ratio of 1.91 and a beta of 1.05. The business’s 50 day moving average is $43.18 and its two-hundred day moving average is $41.27. 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 $31.13 and a 12-month high of $47.57.

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

Truist Financial Dividend Announcement

The business 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 $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.47%. Truist Financial’s dividend payout ratio is currently -145.45%.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of analyst reports. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Bank of America boosted their price target on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. UBS Group increased their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods boosted their price objective 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.37.

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.