Banco Santander S.A. Takes $238,000 Position in Truist Financial Co. (NYSE:TFC)

Banco Santander S.A. acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,574 shares of the insurance provider’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of Truist Financial during the first quarter worth $115,000. Price T Rowe Associates Inc. MD raised its position in shares of Truist Financial by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock worth $136,018,000 after acquiring an additional 58,349 shares in the last quarter. SVB Wealth LLC lifted its stake in shares of Truist Financial by 31.5% in the 1st quarter. SVB Wealth LLC now owns 27,379 shares of the insurance provider’s stock valued at $1,067,000 after purchasing an additional 6,552 shares during the period. Waverly Advisors LLC boosted its position in shares of Truist Financial by 1.9% during the 1st quarter. Waverly Advisors LLC now owns 58,234 shares of the insurance provider’s stock valued at $2,270,000 after purchasing an additional 1,112 shares in the last quarter. Finally, BlueMar Capital Management LLC acquired a new stake in Truist Financial during the first quarter worth approximately $546,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 2.5 %

Shares of NYSE:TFC opened at $47.96 on Friday. The company has a market capitalization of $63.67 billion, a PE ratio of -33.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05. Truist Financial Co. has a 1 year low of $31.23 and a 1 year high of $48.06. 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 business has a fifty day moving average price of $43.68 and a two-hundred day moving average price of $41.53.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.34%. Truist Financial’s payout ratio is -145.45%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. UBS Group raised their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group decreased their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada increased their price target on 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 assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and a consensus target price of $46.37.

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.