SevenBridge Financial Group LLC Invests $211,000 in Truist Financial Co. (NYSE:TFC)

SevenBridge Financial Group LLC purchased a new stake in shares of Truist Financial Co. (NYSE:TFC) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,553 shares of the insurance provider’s stock, valued at approximately $211,000.

Other hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the third quarter valued at $26,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial during the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial in the second quarter worth about $31,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial in the third quarter worth approximately $32,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $47.96 on Monday. The stock has a market cap of $63.67 billion, a P/E ratio of -33.54, a P/E/G ratio of 1.97 and a beta of 1.05. 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 stock’s fifty day moving average is $43.68 and its 200 day moving average is $41.54. Truist Financial Co. has a one year low of $31.23 and a one year high of $48.06.

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

Truist Financial Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 4.34%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TFC shares. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group lowered their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $46.37.

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.