Foster & Motley Inc. Decreases Holdings in Truist Financial Corporation $TFC

Foster & Motley Inc. lessened its stake in shares of Truist Financial Corporation (NYSE:TFC) by 14.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,042 shares of the insurance provider’s stock after selling 2,286 shares during the period. Foster & Motley Inc.’s holdings in Truist Financial were worth $561,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Truist Financial during the first quarter worth about $25,000. Centennial Bank AR boosted its position in Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the period. Motco boosted its position in Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the period. Ramirez Asset Management Inc. boosted its position in Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 300 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 468 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the sale, the insider directly owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Evercore ISI increased their target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Morgan Stanley increased their target price on shares of Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.06.

Truist Financial Price Performance

TFC stock opened at $42.66 on Monday. The firm has a 50 day moving average of $45.11 and a 200-day moving average of $42.26. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The firm has a market capitalization of $55.01 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88.

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

Truist Financial Dividend Announcement

The business 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. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.9%. 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.