Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 37.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356,237 shares of the insurance provider's stock after selling 217,186 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Truist Financial were worth $15,236,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in TFC. Cetera Investment Advisers lifted its position in shares of Truist Financial by 244.3% during the first quarter. Cetera Investment Advisers now owns 444,147 shares of the insurance provider's stock valued at $17,313,000 after buying an additional 315,160 shares during the last quarter. Cetera Advisors LLC lifted its position in Truist Financial by 61.7% during the first quarter. Cetera Advisors LLC now owns 99,857 shares of the insurance provider's stock valued at $3,892,000 after acquiring an additional 38,087 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Truist Financial by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 6,933 shares of the insurance provider's stock valued at $260,000 after acquiring an additional 472 shares in the last quarter. Transcend Capital Advisors LLC purchased a new position in Truist Financial in the second quarter worth $258,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Truist Financial by 124.8% during the 2nd quarter. GAMMA Investing LLC now owns 18,736 shares of the insurance provider's stock valued at $728,000 after purchasing an additional 10,403 shares during the last quarter. 71.28% of the stock is owned by institutional investors.
In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares of the company's stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by company insiders.
TFC opened at $47.68 on Friday. Truist Financial Co. has a 12-month low of $31.96 and a 12-month high of $49.06. The firm has a market cap of $63.30 billion, a price-to-earnings ratio of -33.34, a PEG ratio of 1.96 and a beta of 1.05. 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 stock's 50-day moving average price is $44.23 and its 200 day moving average price is $41.83.
Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $5.05 billion. As a group, sell-side analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.
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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial's dividend payout ratio (DPR) is -145.45%.
Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Citigroup increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, November 25th. StockNews.com raised shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Friday, October 18th. UBS Group upped their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada raised their target price on Truist Financial from $45.00 to $46.00 and gave the company an "outperform" rating in a research 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $47.17.
Check Out Our Latest Stock Analysis on 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.
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