Truist Financial Corporation $TFC Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its stake in Truist Financial Corporation (NYSE:TFC) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,229 shares of the insurance provider’s stock after selling 13,497 shares during the period. Logan Capital Management Inc.’s holdings in Truist Financial were worth $7,619,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Hawaiian Bank grew its position in Truist Financial by 8.6% in the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after buying an additional 948 shares during the last quarter. Code Waechter LLC acquired a new stake in shares of Truist Financial in the 1st quarter worth $365,000. Pinnacle Financial Partners Inc boosted its holdings in shares of Truist Financial by 55.1% in the first quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock valued at $5,530,000 after acquiring an additional 47,717 shares in the last quarter. Credit Agricole S A increased its stake in shares of Truist Financial by 76.4% during the first quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after acquiring an additional 216,672 shares during the period. Finally, Adapt Wealth Advisors LLC increased its stake in shares of Truist Financial by 78.9% during the first quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock worth $842,000 after acquiring an additional 9,021 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC opened at $44.63 on Tuesday. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The stock has a market cap of $57.55 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.21 and a beta of 0.88. The stock’s 50 day simple moving average is $45.07 and its 200 day simple moving average is $42.59. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the business earned $0.97 earnings per share. Truist Financial’s quarterly 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, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. UBS Group set a $55.00 price target on Truist Financial in a research note on Tuesday, October 21st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Finally, TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.