Truist Financial Co. (NYSE:TFC) Stock Position Decreased by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 262,918 shares of the insurance provider’s stock after selling 7,058 shares during the period. Amalgamated Bank’s holdings in Truist Financial were worth $11,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new position in shares of Truist Financial in the first quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the 2nd quarter worth approximately $31,000. Fortitude Family Office LLC grew its position in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Truist Financial during the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Compass Point increased their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. Argus upped their target price on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of “Hold” and an average price target of $46.02.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $42.32 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. The stock has a market capitalization of $56.67 billion, a P/E ratio of -29.59, a P/E/G ratio of 1.77 and a beta of 1.05. The business has a 50-day moving average of $42.76 and a two-hundred day moving average of $40.81. Truist Financial Co. has a fifty-two week low of $28.93 and a fifty-two week high of $45.31.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. Truist Financial’s payout ratio is currently -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.