Truist Financial Co. (NYSE:TFC) Shares Sold by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 21.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,519 shares of the insurance provider’s stock after selling 1,208 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Truist Financial were worth $193,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Truist Financial by 475.1% in the 4th quarter. Wellington Management Group LLP now owns 252,719 shares of the insurance provider’s stock worth $9,330,000 after purchasing an additional 208,772 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Truist Financial by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 494,579 shares of the insurance provider’s stock valued at $19,279,000 after buying an additional 43,746 shares in the last quarter. Financial Management Professionals Inc. lifted its holdings in Truist Financial by 13.0% during the 1st quarter. Financial Management Professionals Inc. now owns 8,538 shares of the insurance provider’s stock worth $333,000 after buying an additional 979 shares during the last quarter. Hodges Capital Management Inc. increased its stake in Truist Financial by 20.4% during the first quarter. Hodges Capital Management Inc. now owns 7,116 shares of the insurance provider’s stock valued at $277,000 after purchasing an additional 1,208 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in shares of Truist Financial by 34.6% in the 1st quarter. Toth Financial Advisory Corp now owns 5,087 shares of the insurance provider’s stock valued at $198,000 after buying an additional 1,307 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 1.8 %

Shares of NYSE:TFC traded down $0.79 on Friday, reaching $42.63. The company had a trading volume of 5,868,746 shares, compared to its average volume of 8,281,671. The stock has a market capitalization of $57.04 billion, a P/E ratio of -32.30, a P/E/G ratio of 1.84 and a beta of 1.05. The stock has a 50-day moving average price of $42.78 and a 200 day moving average price of $40.43. Truist Financial Co. has a twelve month low of $27.38 and a twelve month high of $45.31. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.88%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Compass Point boosted their price target on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $46.02.

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.