Frank Rimerman Advisors LLC Has $1.70 Million Stock Holdings in Truist Financial Corporation $TFC

Frank Rimerman Advisors LLC boosted its stake in Truist Financial Corporation (NYSE:TFC) by 29.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,497 shares of the insurance provider’s stock after purchasing an additional 9,022 shares during the period. Frank Rimerman Advisors LLC’s holdings in Truist Financial were worth $1,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TFC. Wealth Preservation Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter valued at $25,000. Aspect Partners LLC grew its position in Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 268 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in Truist Financial in the 2nd quarter worth about $30,000. Motco raised its position in Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares during the last quarter. Finally, Ramirez Asset Management Inc. boosted its stake 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 valued at $34,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a research note 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, October 21st. UBS Group set a $55.00 price target on shares of Truist Financial in a research note on Tuesday, October 21st. Evercore ISI lifted their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Finally, Morgan Stanley increased their price objective on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Price Performance

TFC stock opened at $44.36 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50-day moving average is $44.60 and its 200-day moving average is $43.48. The stock has a market capitalization of $56.75 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

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 return on equity of 8.73% and a net margin of 16.84%.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 earned $0.97 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts expect that Truist Financial Corporation will post 4 EPS 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. Shareholders 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 yield of 4.7%. The ex-dividend date is Friday, November 14th. 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.