Truist Financial Co. (NYSE:TFC) Shares Bought by Sigma Planning Corp

Sigma Planning Corp grew its position in Truist Financial Co. (NYSE:TFC) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,467 shares of the insurance provider’s stock after buying an additional 1,106 shares during the quarter. Sigma Planning Corp’s holdings in Truist Financial were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Ted Buchan & Co boosted its holdings in Truist Financial by 138.8% in the third quarter. Ted Buchan & Co now owns 20,727 shares of the insurance provider’s stock valued at $886,000 after purchasing an additional 12,048 shares during the period. Houlihan Financial Resource Group Ltd. purchased a new position in Truist Financial in the third quarter valued at $208,000. Assetmark Inc. boosted its holdings in Truist Financial by 15.9% in the third quarter. Assetmark Inc. now owns 46,598 shares of the insurance provider’s stock valued at $1,993,000 after purchasing an additional 6,407 shares during the period. Applied Finance Capital Management LLC boosted its holdings in Truist Financial by 61.1% in the third quarter. Applied Finance Capital Management LLC now owns 20,245 shares of the insurance provider’s stock valued at $866,000 after purchasing an additional 7,678 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in Truist Financial in the third quarter valued at $1,913,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on TFC. 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. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Wednesday, July 17th. UBS Group lifted their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Stephens restated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.02.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $46.51 on Thursday. The business’s 50 day simple moving average is $42.97 and its 200-day simple moving average is $41.09. The firm has a market capitalization of $61.74 billion, a price-to-earnings ratio of -32.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a 12 month low of $30.31 and a 12 month high of $47.57.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. As a group, equities analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Truist Financial Company 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.