First Horizon Advisors Inc. Has $744,000 Stake in Truist Financial Co. (NYSE:TFC)

by · The Markets Daily

First Horizon Advisors Inc. trimmed its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 16.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,396 shares of the insurance provider’s stock after selling 3,364 shares during the period. First Horizon Advisors Inc.’s holdings in Truist Financial were worth $744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the 3rd quarter valued at about $26,000. Crewe Advisors LLC bought a new stake in Truist Financial in the 1st quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial during the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new stake in Truist Financial during the second quarter worth about $31,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $32,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 1.6 %

Shares of TFC stock opened at $46.91 on Friday. The business’s fifty day moving average price is $43.56 and its 200 day moving average price is $41.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $62.27 billion, a PE ratio of -32.80, a P/E/G ratio of 1.92 and a beta of 1.05. Truist Financial Co. has a 1-year low of $31.23 and a 1-year high of $47.57.

Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

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 paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. UBS Group raised their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group decreased their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus price target of $46.37.

Get Our Latest Report on Truist Financial

Truist Financial 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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