Rehmann Capital Advisory Group Sells 751 Shares of Truist Financial Corporation $TFC

Rehmann Capital Advisory Group decreased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 7.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,610 shares of the insurance provider’s stock after selling 751 shares during the period. Rehmann Capital Advisory Group’s holdings in Truist Financial were worth $413,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank increased its position in Truist Financial by 8.6% during the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after purchasing an additional 948 shares during the period. Code Waechter LLC purchased a new position in Truist Financial during the 1st quarter valued at about $365,000. Pinnacle Financial Partners Inc increased its position in Truist Financial by 55.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock valued at $5,530,000 after purchasing an additional 47,717 shares during the period. Credit Agricole S A increased its position in Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock valued at $20,591,000 after purchasing an additional 216,672 shares during the period. Finally, Adapt Wealth Advisors LLC increased its position in Truist Financial by 78.9% during the 1st quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock valued at $842,000 after purchasing an additional 9,021 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TFC. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. 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 currently has an average rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Stock Up 0.0%

Shares of Truist Financial stock opened at $43.61 on Friday. The firm’s 50 day moving average price is $45.07 and its 200-day moving average price is $42.40. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a market cap 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 data on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 16.84% and a return on equity of 8.73%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.8%. 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.