Bristlecone Advisors LLC Sells 244 Shares of Truist Financial Co. (NYSE:TFC)

Bristlecone Advisors LLC cut its position in shares of Truist Financial Co. (NYSE:TFC) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,439 shares of the insurance provider’s stock after selling 244 shares during the quarter. Bristlecone Advisors LLC’s holdings in Truist Financial were worth $361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. LVW Advisors LLC increased its position in shares of Truist Financial by 25.4% during the first quarter. LVW Advisors LLC now owns 21,662 shares of the insurance provider’s stock valued at $844,000 after purchasing an additional 4,394 shares during the period. Aviance Capital Partners LLC bought a new stake in Truist Financial in the 1st quarter valued at $332,000. Applied Capital LLC FL raised its stake in shares of Truist Financial by 4.9% in the 1st quarter. Applied Capital LLC FL now owns 30,704 shares of the insurance provider’s stock valued at $1,197,000 after buying an additional 1,425 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Truist Financial by 1,312.1% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 40,682 shares of the insurance provider’s stock worth $1,586,000 after acquiring an additional 37,801 shares during the period. Finally, Hedeker Wealth LLC boosted its position in shares of Truist Financial by 22.4% during the 1st quarter. Hedeker Wealth LLC now owns 103,364 shares of the insurance provider’s stock valued at $4,029,000 after acquiring an additional 18,934 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 1.8 %

Shares of NYSE TFC opened at $42.63 on Monday. Truist Financial Co. has a 1 year low of $27.38 and a 1 year high of $45.31. The firm’s 50-day moving average is $42.79 and its 200-day moving average is $40.49. 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 firm has a market capitalization of $57.04 billion, a PE ratio of -32.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -157.58%.

Wall Street Analyst Weigh In

TFC has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Bank of America boosted their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group dropped their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.02.

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.