Truist Financial Corporation $TFC Shares Sold by Verity & Verity LLC

Verity & Verity LLC lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 26.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,192 shares of the insurance provider’s stock after selling 94,759 shares during the quarter. Verity & Verity LLC’s holdings in Truist Financial were worth $11,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Preservation Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at about $25,000. Aspect Partners LLC raised its holdings in Truist Financial by 71.5% in the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 268 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in Truist Financial in the second quarter worth approximately $30,000. Ramirez Asset Management Inc. grew its holdings in Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TFC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Truist Financial in a research report on Wednesday, November 19th. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Piper Sandler set a $48.00 price objective on Truist Financial in a report on Monday, October 20th. Evercore ISI raised their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, UBS Group set a $55.00 price target on Truist Financial in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Price Performance

Shares of NYSE TFC opened at $46.05 on Tuesday. The stock has a market cap of $58.91 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $48.53. The stock has a 50 day moving average of $44.59 and a two-hundred day moving average of $43.64. 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 (NYSE:TFC) last issued its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the prior year, the business earned $0.97 EPS. Truist Financial’s quarterly 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, research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio is 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.