Biltmore Family Office LLC Boosts Holdings in Truist Financial Corporation $TFC

Biltmore Family Office LLC raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,274 shares of the insurance provider’s stock after acquiring an additional 324 shares during the period. Biltmore Family Office LLC’s holdings in Truist Financial were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Amundi raised its holdings in shares of Truist Financial by 4.6% during the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after acquiring an additional 1,091,311 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Truist Financial by 32.0% during the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after acquiring an additional 3,188,999 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after acquiring an additional 2,158,639 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Truist Financial by 0.9% during the 1st quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock worth $391,404,000 after acquiring an additional 89,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Truist Financial by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock worth $330,408,000 after acquiring an additional 408,726 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TFC. Evercore ISI upped their price objective on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Morgan Stanley upped their price objective on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, October 20th. UBS Group set a $55.00 price target on Truist Financial in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Stock Performance

NYSE:TFC opened at $44.34 on Wednesday. The stock’s fifty day moving average is $45.07 and its 200 day moving average is $42.65. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm has a market capitalization of $57.17 billion, a PE ratio of 11.92, a PEG ratio of 1.22 and a beta of 0.88. 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 (NYSE:TFC) last announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 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 the consensus estimate of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend 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.