Bray Capital Advisors Trims Stock Holdings in Truist Financial Co. (NYSE:TFC)

Bray Capital Advisors trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 19.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 36,131 shares of the insurance provider’s stock after selling 8,543 shares during the period. Bray Capital Advisors’ holdings in Truist Financial were worth $1,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Applied Finance Capital Management LLC grew its stake 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 worth $866,000 after purchasing an additional 7,678 shares in the last quarter. CWA Asset Management Group LLC bought a new position in Truist Financial in the third quarter worth approximately $1,913,000. Equitable Trust Co. grew its stake in Truist Financial by 46.4% in the third quarter. Equitable Trust Co. now owns 97,222 shares of the insurance provider’s stock worth $4,158,000 after purchasing an additional 30,795 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Truist Financial in the third quarter worth approximately $58,000. Finally, Tandem Investment Advisors Inc. grew its stake in Truist Financial by 202.7% in the third quarter. Tandem Investment Advisors Inc. now owns 34,307 shares of the insurance provider’s stock worth $1,467,000 after purchasing an additional 22,973 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TFC has been the topic of several research analyst reports. Morgan Stanley increased their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group dropped their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and a consensus price target of $46.02.

Truist Financial Trading Down 1.0 %

Shares of Truist Financial stock opened at $45.22 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $28.93 and a 12-month high of $47.03. The firm has a market capitalization of $60.03 billion, a price-to-earnings ratio of -31.62, a PEG ratio of 1.94 and a beta of 1.05. The firm’s 50 day simple moving average is $42.88 and its two-hundred day simple moving average is $40.94.

Truist Financial Dividend Announcement

The business 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. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. Truist Financial’s payout ratio is -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.