Davis R M Inc. Sells 780 Shares of Truist Financial Co. (NYSE:TFC)

Davis R M Inc. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 13.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,998 shares of the insurance provider’s stock after selling 780 shares during the quarter. Davis R M Inc.’s holdings in Truist Financial were worth $214,000 as of its most recent SEC filing.

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

Truist Financial Stock Performance

Shares of TFC opened at $48.12 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $63.88 billion, a price-to-earnings ratio of -33.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. Truist Financial Co. has a 52-week low of $31.23 and a 52-week high of $49.06. The stock’s 50-day simple moving average is $43.80 and its 200 day simple moving average is $41.61.

Truist Financial (NYSE:TFC) last released 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 company 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%. Research analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given 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 dividend yield of 4.32%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TFC shares. Compass Point increased their price target on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $46.57.

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.