Princeton Global Asset Management LLC Takes Position in Truist Financial Corporation $TFC

Princeton Global Asset Management LLC bought a new stake in Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 696 shares of the insurance provider’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC raised its holdings in shares of Truist Financial by 0.4% in the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock valued at $2,804,000 after purchasing an additional 242 shares during the last quarter. MGO One Seven LLC raised its holdings in shares of Truist Financial by 0.9% in the second quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock valued at $1,240,000 after purchasing an additional 246 shares during the last quarter. Klingman & Associates LLC raised its holdings in shares of Truist Financial by 2.2% in the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 248 shares during the last quarter. Haverford Trust Co raised its holdings in shares of Truist Financial by 3.5% in the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 262 shares during the last quarter. Finally, Keystone Financial Group Inc. raised its holdings in shares of Truist Financial by 1.3% in the second quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $43.83 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $56.52 billion, a PE ratio of 11.78, a P/E/G ratio of 1.20 and a beta of 0.88. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a 50-day moving average price of $45.12 and a two-hundred day moving average price of $42.33.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is currently 55.91%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research analyst reports. Evercore ISI raised their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. UBS Group set a $55.00 price objective on shares of Truist Financial in a report on Tuesday. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Finally, Piper Sandler set a $48.00 price objective on shares of Truist Financial in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.59.

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.