Second Half Financial Partners LLC purchased a new position in Truist Financial Co. (NYSE:TFC – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,638 shares of the insurance provider's stock, valued at approximately $270,000.

Several other institutional investors have also modified their holdings of TFC. American Century Companies Inc. lifted its position in shares of Truist Financial by 70.9% during the 1st quarter. American Century Companies Inc. now owns 11,788,064 shares of the insurance provider's stock worth $668,383,000 after buying an additional 4,889,702 shares during the last quarter. Capital World Investors raised its position in Truist Financial by 585.1% in the 1st quarter. Capital World Investors now owns 2,712,800 shares of the insurance provider's stock valued at $153,816,000 after purchasing an additional 2,316,800 shares during the last quarter. Dodge & Cox raised its position in Truist Financial by 12.4% in the 2nd quarter. Dodge & Cox now owns 19,105,325 shares of the insurance provider's stock valued at $906,166,000 after purchasing an additional 2,110,333 shares during the last quarter. Bank of Nova Scotia raised its position in Truist Financial by 1,090.0% in the 2nd quarter. Bank of Nova Scotia now owns 2,062,251 shares of the insurance provider's stock valued at $97,812,000 after purchasing an additional 1,888,956 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Truist Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 117,904,719 shares of the insurance provider's stock valued at $6,685,197,000 after purchasing an additional 1,410,643 shares during the last quarter. Hedge funds and other institutional investors own 73.31% of the company's stock.

Truist Financial Stock Performance

NYSE:TFC opened at $43.46 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.58. Truist Financial Co. has a fifty-two week low of $40.01 and a fifty-two week high of $68.95. The stock has a market cap of $57.66 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.07 and a beta of 1.07. The firm's fifty day simple moving average is $44.33 and its 200-day simple moving average is $46.71.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Thursday, November 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.79%. Truist Financial's dividend payout ratio is presently 47.71%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TFC. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Truist Financial from $70.00 to $61.00 and set a "buy" rating for the company in a research report on Monday, September 12th. Piper Sandler raised shares of Truist Financial from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $52.00 to $55.00 in a research note on Wednesday, September 28th. Royal Bank of Canada dropped their price objective on shares of Truist Financial from $70.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 19th. Compass Point dropped their price objective on shares of Truist Financial to $45.00 in a research note on Thursday, October 20th. Finally, Morgan Stanley boosted their price objective on shares of Truist Financial from $55.00 to $59.00 and gave the company an "equal weight" rating in a research note on Monday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Truist Financial has an average rating of "Hold" and an average price target of $55.09.

About Truist Financial

(Get Rating)

Truist Financial Corporation, a holding 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.

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