Curi RMB Capital LLC Sells 323 Shares of Truist Financial Co. (NYSE:TFC)

Curi RMB Capital LLC lessened its position in Truist Financial Co. (NYSE:TFC) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,945 shares of the insurance provider’s stock after selling 323 shares during the period. Curi RMB Capital LLC’s holdings in Truist Financial were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Capital Investment Counsel Inc boosted its position in Truist Financial by 0.4% in the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after purchasing an additional 244 shares during the last quarter. Burkett Financial Services LLC boosted its holdings in shares of Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after buying an additional 253 shares during the last quarter. Verum Partners LLC increased its holdings in Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after buying an additional 261 shares during the last quarter. CX Institutional raised its position in Truist Financial by 3.4% in the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 263 shares during the period. Finally, Prime Capital Investment Advisors LLC boosted its stake in shares of Truist Financial by 2.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock worth $445,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on TFC shares. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. 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 for the company in a report on Wednesday, October 16th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, Barclays increased their price objective 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. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.37.

Truist Financial Price Performance

Truist Financial stock opened at $46.55 on Friday. Truist Financial Co. has a 52-week low of $31.13 and a 52-week high of $47.57. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average is $43.18 and its 200 day moving average is $41.22. The company has a market cap of $61.80 billion, a price-to-earnings ratio of -32.55, a PEG ratio of 1.91 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS 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 the consensus estimate of $5.05 billion. Sell-side analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business 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. This represents a $2.08 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

About Truist Financial

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.