Truist Financial Corporation $TFC Shares Bought by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC raised its stake in Truist Financial Corporation (NYSE:TFC) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,127 shares of the insurance provider’s stock after purchasing an additional 6,408 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Truist Financial were worth $2,886,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on TFC shares. Piper Sandler set a $48.00 target price on shares of Truist Financial in a report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. UBS Group set a $55.00 target price on shares of Truist Financial in a report on Tuesday, October 21st. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Tuesday, October 21st. Finally, Evercore ISI lifted their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Stock Performance

Truist Financial stock opened at $44.34 on Wednesday. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The company has a market capitalization of $57.17 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s fifty day moving average price is $45.07 and its 200 day moving average price is $42.65.

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

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial’s payout ratio is presently 55.91%.

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.