MCF Advisors LLC Has $1.26 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

by · The Markets Daily

MCF Advisors LLC reduced its position in Truist Financial Co. (NYSE:TFC – Free Report) by 12.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,379 shares of the insurance provider’s stock after selling 4,210 shares during the period. MCF Advisors LLC’s holdings in Truist Financial were worth $1,257,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Crewe Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the second quarter worth $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the second quarter valued at $31,000. Hobbs Group Advisors LLC bought a new position in shares of Truist Financial in the second quarter valued at about $38,000. Finally, Beacon Capital Management LLC lifted its stake in shares of Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after buying an additional 370 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock traded down $0.79 on Friday, reaching $42.63. The company had a trading volume of 5,868,746 shares, compared to its average volume of 8,281,671. The stock has a market capitalization of $57.04 billion, a PE ratio of -32.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average is $42.79 and its 200 day moving average is $40.46. Truist Financial Co. has a one year low of $27.38 and a one year high of $45.31.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.88%. Truist Financial’s dividend payout ratio is presently -157.58%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TFC shares. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America increased their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average target price of $46.02.

Get Our Latest Report on TFC

Truist Financial Company Profile

(Free Report)

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.

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