B. Metzler seel. Sohn & Co. Holding AG Takes Position in Truist Financial Co. (NYSE:TFC)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Truist Financial Co. (NYSE:TFC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 272,523 shares of the insurance provider’s stock, valued at approximately $11,655,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the 3rd quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new stake in Truist Financial in the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the 2nd quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the second quarter worth $31,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the third quarter worth $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $46.79 on Tuesday. Truist Financial Co. has a 1-year low of $31.23 and a 1-year high of $47.57. The stock has a market cap of $62.11 billion, a PE ratio of -32.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05. 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 firm has a fifty day moving average price of $43.27 and a 200 day moving average price of $41.33.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share 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 firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.45%. Truist Financial’s payout ratio is -145.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Morgan Stanley boosted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Stephens restated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Compass Point boosted their price target on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.37.

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.