Truist Financial Corporation $TFC Stock Position Increased by Klingman & Associates LLC

Klingman & Associates LLC grew its position in Truist Financial Corporation (NYSE:TFC) by 14.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,503 shares of the insurance provider’s stock after purchasing an additional 1,747 shares during the period. Klingman & Associates LLC’s holdings in Truist Financial were worth $580,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC grew its holdings in Truist Financial by 0.4% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after buying an additional 242 shares in the last quarter. MGO One Seven LLC boosted its position in Truist Financial by 0.9% during the 2nd quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after acquiring an additional 246 shares during the period. Haverford Trust Co grew its stake in shares of Truist Financial by 3.5% in the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 262 shares in the last quarter. Keystone Financial Group Inc. increased its holdings in shares of Truist Financial by 1.3% during the second quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after purchasing an additional 266 shares during the period. Finally, Manchester Capital Management LLC increased its holdings in shares of Truist Financial by 8.0% during the first quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 2.0%

TFC stock opened at $43.44 on Tuesday. The firm has a market cap of $56.01 billion, a PE ratio of 11.68, a P/E/G ratio of 1.36 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 company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $45.13 and a 200 day simple moving average of $42.32.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results 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 company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. 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 was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given 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 55.91%.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Finally, Evercore ISI upped 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. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.63.

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.