Arcus Capital Partners LLC Acquires 1,196 Shares of Truist Financial Co. (NYSE:TFC)

Arcus Capital Partners LLC grew its holdings in Truist Financial Co. (NYSE:TFC) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,722 shares of the insurance provider’s stock after acquiring an additional 1,196 shares during the quarter. Truist Financial accounts for 0.6% of Arcus Capital Partners LLC’s portfolio, making the stock its 28th largest holding. Arcus Capital Partners LLC’s holdings in Truist Financial were worth $1,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TFC. Capital International Investors grew its position in Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Legal & General Group Plc grew its position in Truist Financial by 1.0% during the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after buying an additional 103,565 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 worth $346,957,000 after buying an additional 299,196 shares in the last quarter. Truist Financial Corp raised its holdings in Truist Financial by 6.7% in the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after acquiring an additional 311,523 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Truist Financial by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock worth $136,018,000 after acquiring an additional 58,349 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TFC shares. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Argus raised their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Bank of America upped their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Compass Point upped their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.02.

Truist Financial Price Performance

Shares of TFC stock opened at $46.44 on Tuesday. 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 firm has a market capitalization of $61.65 billion, a price-to-earnings ratio of -32.48, a PEG ratio of 1.86 and a beta of 1.05. The firm’s 50 day moving average is $42.92 and its 200-day moving average is $41.03. Truist Financial Co. has a 1 year low of $28.97 and a 1 year high of $47.03.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Sell-side analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 annualized dividend and a yield of 4.48%. Truist Financial’s dividend payout ratio is currently -145.45%.

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.