Catalyst Capital Advisors LLC Takes Position in Truist Financial Co. (NYSE:TFC)

Catalyst Capital Advisors LLC bought a new position in shares of Truist Financial Co. (NYSE:TFC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,861 shares of the insurance provider’s stock, valued at approximately $165,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Capital Investment Counsel Inc raised its position in shares of Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after buying an additional 244 shares during the last quarter. Burkett Financial Services LLC increased its holdings in Truist Financial by 26.8% in the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 253 shares during the last quarter. Verum Partners LLC lifted its stake in Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after purchasing an additional 261 shares in the last quarter. CX Institutional boosted its holdings in shares of Truist Financial by 3.4% during the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 263 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Truist Financial by 1.5% during the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after purchasing an additional 274 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research analyst reports. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Morgan Stanley increased their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. UBS Group raised their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Argus boosted their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Trading Up 0.6 %

Shares of TFC opened at $42.32 on Wednesday. The firm has a market capitalization of $56.67 billion, a price-to-earnings ratio of -29.59, a PEG ratio of 1.77 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 1-year low of $28.93 and a 1-year high of $45.31. The company has a 50-day moving average of $42.76 and a 200 day moving average of $40.81.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.91%. Truist Financial’s payout ratio is -145.45%.

Truist Financial 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.