Modera Wealth Management LLC Raises Holdings in Truist Financial Corporation $TFC

Modera Wealth Management LLC increased its position in Truist Financial Corporation (NYSE:TFC) by 2.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 243,736 shares of the insurance provider’s stock after purchasing an additional 5,487 shares during the period. Modera Wealth Management LLC’s holdings in Truist Financial were worth $10,478,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at about $25,000. Princeton Global Asset Management LLC acquired a new position in Truist Financial during the 2nd quarter worth approximately $30,000. Motco raised its stake in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after buying an additional 649 shares in the last quarter. Ramirez Asset Management Inc. lifted its holdings in shares of Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after buying an additional 300 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after buying an additional 468 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 1.6%

NYSE:TFC opened at $44.71 on Friday. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. 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 stock has a fifty day simple moving average of $44.80 and a 200-day simple moving average of $43.07. The company has a market capitalization of $57.20 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm had revenue of $5.24 billion during 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 revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend payout ratio (DPR) is 55.91%.

Analyst Ratings Changes

Several research firms have issued reports on TFC. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, October 21st. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Finally, Piper Sandler set a $48.00 target price on shares of Truist Financial in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $50.59.

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.