Schwartz Investment Counsel Inc. Sells 237,000 Shares of Truist Financial Co. (NYSE:TFC)

Schwartz Investment Counsel Inc. trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 21.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 849,795 shares of the insurance provider’s stock after selling 237,000 shares during the quarter. Schwartz Investment Counsel Inc. owned 0.06% of Truist Financial worth $36,346,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Crewe Advisors LLC purchased a new position in shares of Truist Financial in the first quarter worth $27,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial during the 2nd quarter valued at $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial during the 2nd quarter valued at $31,000. Hobbs Group Advisors LLC purchased a new position in Truist Financial during the 2nd quarter valued at $38,000. Finally, Beacon Capital Management LLC increased its position in Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 370 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TFC has been the topic of a number of research reports. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their target price for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Royal Bank of Canada boosted their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. The Goldman Sachs Group dropped their target price 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. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Twelve 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, the company currently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Down 0.0 %

Shares of TFC opened at $43.42 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a one year low of $27.01 and a one year high of $45.31. The stock has a market capitalization of $58.15 billion, a price-to-earnings ratio of -30.36, a PEG ratio of 1.84 and a beta of 1.05. The stock has a 50 day moving average price of $42.76 and a 200 day moving average price of $40.41.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 3.58 earnings per share for the current fiscal year.

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 issued a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.79%. Truist Financial’s dividend payout ratio (DPR) 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.