Bray Capital Advisors Sells 8,543 Shares of Truist Financial Co. (NYSE:TFC)

Bray Capital Advisors trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 19.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 36,131 shares of the insurance provider’s stock after selling 8,543 shares during the quarter. Bray Capital Advisors’ holdings in Truist Financial were worth $1,545,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TFC. Crewe Advisors LLC purchased a new position in Truist Financial in the first quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial in the second quarter worth about $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial in the second quarter worth about $31,000. Fortitude Family Office LLC boosted its position in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Truist Financial in the second quarter worth about $38,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

NYSE:TFC opened at $45.22 on Friday. Truist Financial Co. has a 12 month low of $28.93 and a 12 month high of $47.03. 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 business’s 50-day moving average is $42.88 and its 200 day moving average is $40.94. The company has a market capitalization of $60.03 billion, a P/E ratio of -31.62, a P/E/G ratio of 1.94 and a beta of 1.05.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TFC shares. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price 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. Finally, Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Company 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.