Truist Financial Corporation $TFC Shares Sold by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 11.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,975 shares of the insurance provider’s stock after selling 1,518 shares during the period. Midland Wealth Advisors LLC’s holdings in Truist Financial were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial in the 1st quarter valued at about $25,000. Aspect Partners LLC boosted its stake in shares of Truist Financial by 71.5% in the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of Truist Financial during the second quarter valued at about $30,000. Motco grew its stake in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares in the last quarter. Finally, Ramirez Asset Management Inc. grew its position in shares of 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 buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC stock opened at $44.71 on Monday. The firm has a 50 day simple moving average of $44.80 and a 200 day simple moving average of $43.16. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The stock has a market cap of $57.20 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.20 and a beta of 0.92.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping 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 business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Truist Financial’s revenue for the quarter 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. Research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, November 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial’s dividend payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TFC. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Piper Sandler set a $48.00 target price on shares of Truist Financial in a research note on Monday, October 20th. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Finally, Evercore ISI boosted their price target 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. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.