Forvis Mazars Wealth Advisors LLC Has $517,000 Stock Position in Truist Financial Corporation $TFC

Forvis Mazars Wealth Advisors LLC trimmed its position in Truist Financial Corporation (NYSE:TFC) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,022 shares of the insurance provider’s stock after selling 539 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Truist Financial were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the 1st quarter valued at $25,000. Centennial Bank AR boosted its holdings in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 580 shares during the period. Motco boosted its holdings in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares during the period. Ramirez Asset Management Inc. boosted its holdings in Truist Financial by 60.0% in the 2nd 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 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 period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 3.8%

Shares of Truist Financial stock opened at $42.66 on Monday. The stock has a market capitalization of $55.01 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $45.11 and a 200 day simple moving average of $42.26. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS 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 for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The company’s revenue was up 1.9% on a year-over-year basis. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.9%. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

Analyst Ratings Changes

A number of analysts have weighed in on TFC shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Morgan Stanley increased their price target on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a 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 given a Hold rating to the stock. According to data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $49.06.

Insiders Place Their Bets

In related news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the transaction, the insider owned 500 shares of the company’s stock, valued at $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by insiders.

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.