Brookstone Capital Management Acquires 12,429 Shares of Truist Financial Corporation $TFC

Brookstone Capital Management increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 299,179 shares of the insurance provider’s stock after acquiring an additional 12,429 shares during the quarter. Brookstone Capital Management’s holdings in Truist Financial were worth $12,862,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Foster Victor Wealth Advisors LLC increased its position in Truist Financial by 0.4% during the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after acquiring an additional 242 shares during the period. MGO One Seven LLC increased its position in Truist Financial by 0.9% during the second quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after acquiring an additional 246 shares during the period. Klingman & Associates LLC increased its position in Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after acquiring an additional 248 shares during the period. Haverford Trust Co increased its holdings in Truist Financial by 3.5% in the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after buying an additional 262 shares during the period. Finally, Keystone Financial Group Inc. increased its holdings in Truist Financial by 1.3% in the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after buying an additional 266 shares during the period. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TFC. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Piper Sandler set a $48.00 target price on shares of Truist Financial in a report on Monday. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. TD Cowen raised 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Two 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Trading Down 0.5%

Shares of Truist Financial stock opened at $43.60 on Thursday. The firm has a market capitalization of $56.22 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $45.10 and its 200 day moving average is $42.34. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The company had revenue of $5.24 billion for 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 firm’s revenue was up 1.9% on a year-over-year basis. During the same period 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. Equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.8%. Truist Financial’s payout ratio is 55.91%.

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.