Truist Financial Corporation $TFC Shares Acquired by Keybank National Association OH

Keybank National Association OH increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 11.1% in the third quarter, HoldingsChannel reports. The firm owned 106,268 shares of the insurance provider’s stock after purchasing an additional 10,590 shares during the period. Keybank National Association OH’s holdings in Truist Financial were worth $4,920,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new position in Truist Financial in the second quarter valued at about $30,000. Navigoe LLC bought a new stake in Truist Financial during the second quarter worth about $30,000. Wilkerson Advisory Group LLC grew its stake in Truist Financial by 104.0% during the first quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock worth $38,000 after buying an additional 421 shares during the last quarter. Elevation Wealth Partners LLC grew its stake in Truist Financial by 44.6% during the second quarter. Elevation Wealth Partners LLC now owns 892 shares of the insurance provider’s stock worth $44,000 after buying an additional 275 shares during the last quarter. Finally, Latitude Advisors LLC acquired a new stake in shares of Truist Financial during the third quarter worth approximately $45,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Down 0.7%

Shares of NYSE TFC opened at $49.90 on Friday. The firm’s 50-day simple moving average is $48.35 and its 200 day simple moving average is $49.51. The company has a market cap of $59.81 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. Truist Financial Corporation has a 12-month low of $43.13 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 EPS. On average, research analysts expect that Truist Financial Corporation will post 4.66 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, November 13th. Truist Financial’s dividend payout ratio is presently 53.61%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of research analyst reports. TD Cowen initiated coverage on shares of Truist Financial in a research note on Thursday, October 8th. They issued a “hold” rating and a $52.00 target price for the company. Wells Fargo & Company set a $52.00 target price on Truist Financial in a report on Thursday, October 8th. Evercore restated an “outperform” rating and set a $55.00 price target (up from $54.00) on shares of Truist Financial in a research report on Tuesday, October 27th. Stephens decreased their price target on Truist Financial from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Finally, HSBC assumed coverage on Truist Financial in a report on Monday, September 28th. They set a “buy” rating and a $61.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.73.

Insider Activity

In related news, CEO Michael Lyons purchased 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost of $48.36 per share, with a total value of $1,209,000.00. Following the completion of the purchase, the chief executive officer directly owned 46,000 shares of the company’s stock, valued at $2,224,560. This trade represents a 119.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

About Truist Financial

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.