Truist Financial Corporation $TFC Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 12.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 228,630 shares of the insurance provider’s stock after selling 33,115 shares during the quarter. Kanawha Capital Management LLC’s holdings in Truist Financial were worth $9,829,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.06.

Truist Financial Price Performance

TFC stock opened at $42.66 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $55.01 billion, a PE ratio of 11.63, a P/E/G ratio of 1.31 and a beta of 0.88. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The business’s fifty day moving average price is $45.11 and its 200 day moving average price is $42.22.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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. 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 8.69% and a net margin of 16.82%.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 business earned $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 EPS for the current year.

Truist Financial Dividend Announcement

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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s payout ratio is presently 56.68%.

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.