Sterling Investment Advisors Ltd. Has $4.75 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Sterling Investment Advisors Ltd. cut its stake in Truist Financial Co. (NYSE:TFC) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,080 shares of the insurance provider’s stock after selling 3,490 shares during the quarter. Truist Financial makes up 1.2% of Sterling Investment Advisors Ltd.’s portfolio, making the stock its 25th biggest holding. Sterling Investment Advisors Ltd.’s holdings in Truist Financial were worth $4,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TFC. Norden Group LLC acquired a new stake in shares of Truist Financial during the 1st quarter valued at about $2,351,000. Nordea Investment Management AB lifted its position in shares of Truist Financial by 44.4% during the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after purchasing an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in Truist Financial during the 1st quarter valued at approximately $516,000. M&G Plc acquired a new stake in Truist Financial in the 2nd quarter valued at approximately $2,804,000. Finally, Dimensional Fund Advisors LP increased its position in Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the subject of a number of research reports. Argus increased their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Bank of America raised their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley increased 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 report on Tuesday, July 30th. Finally, UBS Group lifted their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.02.

Truist Financial Price Performance

Shares of Truist Financial stock traded down $0.79 during midday trading 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 company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $42.79 and a 200 day simple moving average of $40.47. Truist Financial Co. has a 1-year low of $27.38 and a 1-year high of $45.31. The company has a market capitalization of $57.04 billion, a price-to-earnings ratio of -32.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 4.88%. Truist Financial’s payout ratio is currently -157.58%.

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.