Truist Financial Co. (NYSE:TFC) Shares Sold by Bogart Wealth LLC

Bogart Wealth LLC reduced its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,613 shares of the insurance provider’s stock after selling 1,460 shares during the quarter. Bogart Wealth LLC’s holdings in Truist Financial were worth $7,169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TFC. Beese Fulmer Investment Management Inc. raised its holdings in Truist Financial by 3.0% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 14,976 shares of the insurance provider’s stock valued at $641,000 after acquiring an additional 442 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its position in Truist Financial by 9.4% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 6,245 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 538 shares in the last quarter. Great Lakes Retirement Inc. increased its position in shares of Truist Financial by 1.6% in the third quarter. Great Lakes Retirement Inc. now owns 24,699 shares of the insurance provider’s stock worth $1,056,000 after acquiring an additional 388 shares in the last quarter. Greenleaf Trust raised its position in Truist Financial by 6.5% in the third quarter. Greenleaf Trust now owns 13,099 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 795 shares during the period. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Truist Financial during the 3rd quarter valued at about $924,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Down 0.7 %

NYSE TFC traded down $0.32 on Thursday, hitting $43.12. 1,299,868 shares of the stock were exchanged, compared to its average volume of 8,273,220. The company’s 50-day moving average price is $42.76 and its two-hundred day moving average price is $40.41. 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 52-week low of $27.01 and a 52-week high of $45.31.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Truist Financial’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, equities research analysts anticipate that Truist Financial Co. will post 3.58 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.82%. Truist Financial’s dividend payout ratio is -145.45%.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Morgan Stanley raised their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Barclays upped their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.02.

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.