Bleakley Financial Group LLC Boosts Holdings in Truist Financial Corporation $TFC

Bleakley Financial Group LLC lifted its stake in Truist Financial Corporation (NYSE:TFC) by 17.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,192 shares of the insurance provider’s stock after purchasing an additional 6,834 shares during the quarter. Bleakley Financial Group LLC’s holdings in Truist Financial were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of TFC. Foster Victor Wealth Advisors LLC lifted its holdings in Truist Financial by 0.4% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after purchasing an additional 242 shares in the last quarter. MGO One Seven LLC lifted its holdings in Truist Financial by 0.9% in the 2nd quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after purchasing an additional 246 shares in the last quarter. Klingman & Associates LLC lifted its holdings in Truist Financial by 2.2% in the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 248 shares in the last quarter. Haverford Trust Co lifted 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 worth $319,000 after purchasing an additional 262 shares in the last quarter. Finally, Keystone Financial Group Inc. raised its holdings in shares of Truist Financial by 1.3% during the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock worth $942,000 after acquiring an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of several recent research reports. 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. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday. Piper Sandler set a $48.00 price objective on Truist Financial in a report on Monday. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Stock Performance

NYSE TFC opened at $44.17 on Friday. The company has a market cap of $56.96 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.19 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. The business’s 50 day moving average price is $45.06 and its 200-day moving average price is $42.46. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm 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%.The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were given 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 4.7%. Truist Financial’s payout ratio is currently 55.91%.

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.