Cobblestone Capital Advisors LLC NY Boosts Stake in Truist Financial Co. (NYSE:TFC)

Cobblestone Capital Advisors LLC NY lifted its holdings in Truist Financial Co. (NYSE:TFC) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,045 shares of the insurance provider’s stock after buying an additional 339 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Truist Financial were worth $601,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TFC. Valley Wealth Managers Inc. purchased a new stake in Truist Financial during the third quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial during the 3rd quarter worth approximately $32,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial in the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial in the second quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC grew its holdings in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the period. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TFC shares. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. UBS Group increased their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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. Finally, Compass Point lifted their price objective on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.17.

Truist Financial Stock Performance

NYSE TFC opened at $47.68 on Monday. The company has a market capitalization of $63.30 billion, a P/E ratio of -33.34, a P/E/G ratio of 1.96 and a beta of 1.05. 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 52-week low of $31.96 and a 52-week high of $49.06. The company has a fifty day moving average of $44.23 and a 200-day moving average of $41.84.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, equities research analysts predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is presently -145.45%.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

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.