Ritholtz Wealth Management Buys 2,122 Shares of Truist Financial Corporation $TFC

Ritholtz Wealth Management boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 31.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,860 shares of the insurance provider’s stock after buying an additional 2,122 shares during the quarter. Ritholtz Wealth Management’s holdings in Truist Financial were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TFC. Wealth Preservation Advisors LLC purchased a new stake in Truist Financial in the 1st quarter worth about $25,000. Centennial Bank AR raised its holdings in shares of Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after buying an additional 580 shares during the period. Motco lifted its stake in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares during the last quarter. Ramirez Asset Management Inc. boosted 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 valued at $34,000 after acquiring an additional 300 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 468 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TFC. Evercore ISI increased their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.63.

Truist Financial Trading Up 2.0%

Shares of NYSE:TFC opened at $43.44 on Tuesday. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The business’s fifty day simple moving average is $45.13 and its 200-day simple moving average is $42.32. The company has a market capitalization of $56.01 billion, a PE ratio of 11.68, a P/E/G ratio of 1.36 and a beta of 0.88. 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 announced its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period last year, the business posted $0.97 EPS. The business’s 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. As a group, equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were issued a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. Truist Financial’s dividend payout ratio (DPR) is currently 55.91%.

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.