Forum Financial Management LP Purchases 1,157 Shares of Truist Financial Corporation $TFC

Forum Financial Management LP lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,055 shares of the insurance provider’s stock after purchasing an additional 1,157 shares during the quarter. Forum Financial Management LP’s holdings in Truist Financial were worth $862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Greatmark Investment Partners Inc. boosted its position in shares of Truist Financial by 4.8% during the second quarter. Greatmark Investment Partners Inc. now owns 9,299 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 423 shares in the last quarter. Exencial Wealth Advisors LLC boosted its position in shares of Truist Financial by 6.0% during the second quarter. Exencial Wealth Advisors LLC now owns 14,057 shares of the insurance provider’s stock worth $604,000 after purchasing an additional 792 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Truist Financial by 4.3% during the second quarter. Brookstone Capital Management now owns 299,179 shares of the insurance provider’s stock worth $12,862,000 after acquiring an additional 12,429 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Truist Financial by 5.0% during the second quarter. Cullen Frost Bankers Inc. now owns 16,598 shares of the insurance provider’s stock worth $714,000 after acquiring an additional 796 shares during the period. Finally, St. Johns Investment Management Company LLC raised its holdings in shares of Truist Financial by 4.9% during the second quarter. St. Johns Investment Management Company LLC now owns 38,411 shares of the insurance provider’s stock worth $1,651,000 after acquiring an additional 1,809 shares during the period. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TFC shares. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Finally, TD Cowen upgraded shares of 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. Two 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Stock Up 0.0%

Shares of TFC stock opened at $43.61 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm’s fifty day moving average price is $45.07 and its two-hundred day moving average price is $42.40. The firm has a market capitalization of $56.23 billion, a P/E ratio of 11.72, a PEG ratio of 1.19 and a beta of 0.88.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) 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.