Daiwa Securities Group Inc. Purchases 17,967 Shares of Truist Financial Co. (NYSE:TFC)

Daiwa Securities Group Inc. raised its position in shares of Truist Financial Co. (NYSE:TFC) by 12.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 163,373 shares of the insurance provider’s stock after purchasing an additional 17,967 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Truist Financial were worth $6,987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TFC. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial in the third quarter worth approximately $26,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial in the second quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial in the second quarter worth approximately $31,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial in the third quarter worth approximately $32,000. Finally, Fortitude Family Office LLC grew its stake in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TFC. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada raised their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. The Goldman Sachs Group dropped their price objective 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. Finally, UBS Group raised their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average target price of $46.57.

Truist Financial Trading Up 0.3 %

Truist Financial stock opened at $48.12 on Tuesday. The stock has a market cap of $63.88 billion, a P/E ratio of -33.65, a PEG ratio of 1.97 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 $31.23 and a 1 year high of $49.06. The firm’s 50 day moving average price is $43.80 and its 200-day moving average price is $41.61.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for 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%. On average, equities analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend 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.