Modera Wealth Management LLC Acquires 3,854 Shares of Truist Financial Co. (NYSE:TFC)

Modera Wealth Management LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 287,230 shares of the insurance provider’s stock after buying an additional 3,854 shares during the period. Modera Wealth Management LLC’s holdings in Truist Financial were worth $12,285,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TFC. Crewe Advisors LLC purchased a new position in Truist Financial during the 1st quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial during the second quarter valued at about $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial in the second quarter worth about $31,000. Hobbs Group Advisors LLC purchased a new stake in Truist Financial in the second quarter worth about $38,000. Finally, Beacon Capital Management LLC boosted its position in Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 370 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised 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 raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group reduced their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada upped 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. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Trading Down 1.8 %

Shares of Truist Financial stock opened at $42.63 on Friday. Truist Financial Co. has a fifty-two week low of $27.38 and a fifty-two week high of $45.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company 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 company has a fifty day moving average of $42.79 and a 200 day moving average of $40.47.

Truist Financial Dividend Announcement

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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -157.58%.

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.