Savant Capital LLC Reduces Stock Position in Truist Financial Corporation $TFC

Savant Capital LLC cut its position in Truist Financial Corporation (NYSE:TFC) by 41.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,821 shares of the insurance provider’s stock after selling 29,865 shares during the period. Savant Capital LLC’s holdings in Truist Financial were worth $1,798,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TFC. Wealth Preservation Advisors LLC purchased a new position in Truist Financial during the 1st quarter worth approximately $25,000. Princeton Global Asset Management LLC acquired a new stake in shares of Truist Financial in the second quarter worth $30,000. Motco raised its holdings in shares of Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the last quarter. Ramirez Asset Management Inc. lifted its position in Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in Truist Financial by 115.3% in the first 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. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 0.4%

Shares of NYSE:TFC opened at $45.32 on Wednesday. The business’s 50 day moving average price is $44.74 and its 200-day moving average price is $43.26. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a market capitalization of $57.98 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio is 55.91%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Piper Sandler set a $48.00 price objective on Truist Financial in a research note on Monday, October 20th. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Morgan Stanley lifted their price target on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Tuesday, October 21st. Finally, UBS Group set a $55.00 price objective on shares of Truist Financial in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial 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.