Truist Financial Co. (NYSE:TFC) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,023 shares of the insurance provider’s stock after buying an additional 1,940 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Truist Financial were worth $856,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial in the third quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial in the 2nd quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial during the 2nd quarter valued at $31,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial during the third quarter worth $32,000. Finally, Fortitude Family Office LLC raised its holdings 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 last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Down 0.8 %

Truist Financial stock opened at $47.71 on Wednesday. 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 one year low of $31.23 and a one year high of $49.06. The stock’s 50 day moving average price is $43.91 and its 200 day moving average price is $41.66.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Research 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. Investors of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TFC shares. Morgan Stanley lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group increased their price target 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, Citigroup raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.17.

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.