Summit Trail Advisors LLC Has $651,000 Stake in Truist Financial Co. (NYSE:TFC)

Summit Trail Advisors LLC increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,229 shares of the insurance provider’s stock after purchasing an additional 1,081 shares during the quarter. Summit Trail Advisors LLC’s holdings in Truist Financial were worth $651,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC acquired a new stake in shares of Truist Financial during the 3rd quarter valued at $211,000. Centaurus Financial Inc. raised its holdings in shares of Truist Financial by 28.2% during the third quarter. Centaurus Financial Inc. now owns 16,168 shares of the insurance provider’s stock worth $691,000 after acquiring an additional 3,559 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its position in Truist Financial by 72.7% during the third quarter. Sompo Asset Management Co. Ltd. now owns 64,190 shares of the insurance provider’s stock valued at $2,745,000 after purchasing an additional 27,020 shares during the last quarter. StoneX Group Inc. increased its position in Truist Financial by 4.6% in the 3rd quarter. StoneX Group Inc. now owns 65,265 shares of the insurance provider’s stock worth $2,791,000 after purchasing an additional 2,881 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of Truist Financial by 2.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 154,342 shares of the insurance provider’s stock worth $6,601,000 after purchasing an additional 3,491 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group boosted their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group dropped their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.57.

Truist Financial Price Performance

NYSE:TFC opened at $48.12 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. 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 fifty day moving average price of $43.80 and a 200 day moving average price of $41.61. Truist Financial Co. has a one year low of $31.23 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.05 billion. Analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is presently -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.