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HighTower Advisors LLC Purchases 39,298 Shares of Truist Financial Co. (NYSE:TFC)

Written by Amanda

HighTower Advisors LLC boosted its position in Truist Financial Co. (NYSE:TFCFree Report) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,979,035 shares of the insurance provider’s stock after buying an additional 39,298 shares during the quarter. HighTower Advisors LLC owned approximately 0.22% of Truist Financial worth $85,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of TFC. Fairfield Bush & CO. purchased a new stake in Truist Financial in the first quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in Truist Financial in the third quarter valued at approximately $26,000. JFS Wealth Advisors LLC lifted its position in Truist Financial by 617.0% in the second quarter. JFS Wealth Advisors LLC now owns 968 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 833 shares during the last quarter. Quarry LP bought a new stake in Truist Financial in the first quarter valued at approximately $32,000. Finally, Union Savings Bank bought a new stake in Truist Financial in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 71.11% of the company’s stock.

Truist Financial Stock Down 0.6 %

Shares of NYSE TFC traded down $0.21 during trading on Thursday, reaching $35.28. The company had a trading volume of 1,773,694 shares, compared to its average volume of 10,085,077. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $49.32. The stock has a market cap of $47.05 billion, a PE ratio of -32.71, a P/E/G ratio of 1.53 and a beta of 1.09. The business’s 50-day moving average is $36.32 and its 200 day moving average is $32.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFCGet Free Report) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. As a group, equities analysts forecast that Truist Financial Co. will post 3.38 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.90%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Analyst Ratings Changes

TFC has been the subject of several recent research reports. Odeon Capital Group upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective for the company in a research report on Thursday, December 14th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley upped their target price on Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Barclays upped their target price on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.87.

View Our Latest Stock Report on TFC

About Truist Financial

(Free Report)

Truist Financial Corporation, a holding 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.

See Also

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFCFree Report).

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Truist Financial, you’ll want to hear this.

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While Truist Financial currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

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Source: marketbeat.com

HighTower Advisors LLC boosted its position in Truist Financial Co. (NYSE:TFCFree Report) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,979,035 shares of the insurance provider’s stock after buying an additional 39,298 shares during the quarter. HighTower Advisors LLC owned approximately 0.22% of Truist Financial worth $85,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of TFC. Fairfield Bush & CO. purchased a new stake in Truist Financial in the first quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in Truist Financial in the third quarter valued at approximately $26,000. JFS Wealth Advisors LLC lifted its position in Truist Financial by 617.0% in the second quarter. JFS Wealth Advisors LLC now owns 968 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 833 shares during the last quarter. Quarry LP bought a new stake in Truist Financial in the first quarter valued at approximately $32,000. Finally, Union Savings Bank bought a new stake in Truist Financial in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 71.11% of the company’s stock.

Truist Financial Stock Down 0.6 %

Shares of NYSE TFC traded down $0.21 during trading on Thursday, reaching $35.28. The company had a trading volume of 1,773,694 shares, compared to its average volume of 10,085,077. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $49.32. The stock has a market cap of $47.05 billion, a PE ratio of -32.71, a P/E/G ratio of 1.53 and a beta of 1.09. The business’s 50-day moving average is $36.32 and its 200 day moving average is $32.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFCGet Free Report) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. As a group, equities analysts forecast that Truist Financial Co. will post 3.38 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.90%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Analyst Ratings Changes

TFC has been the subject of several recent research reports. Odeon Capital Group upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective for the company in a research report on Thursday, December 14th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley upped their target price on Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Barclays upped their target price on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.87.

View Our Latest Stock Report on TFC

About Truist Financial

(Free Report)

Truist Financial Corporation, a holding 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.

See Also

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFCFree Report).

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Truist Financial, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Truist Financial wasn’t on the list.

While Truist Financial currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Investing Strategies To Help Grow Your Retirement Income Cover

Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.

Get This Free Report

Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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