Chicago Partners Investment Group LLC Decreases Position in Truist Financial Corporation $TFC

Chicago Partners Investment Group LLC trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 7,576 shares of the insurance provider’s stock after selling 598 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Truist Financial were worth $347,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new stake in Truist Financial during the first quarter worth $25,000. Centennial Bank AR lifted its position 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 valued at $30,000 after acquiring an additional 580 shares in the last quarter. Motco lifted its position in shares of Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 649 shares in the last quarter. Ramirez Asset Management Inc. lifted its position in shares of Truist Financial by 60.0% in the second 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 in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of 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 acquiring an additional 468 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $43.61 on Friday. The firm has a market capitalization of $56.23 billion, a PE ratio of 11.72, a P/E/G ratio of 1.19 and a beta of 0.88. 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 business has a 50-day moving average of $45.07 and a two-hundred day moving average of $42.40. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid 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%.

Analysts Set New Price Targets

Several analysts have recently issued reports on TFC shares. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Piper Sandler set a $48.00 price objective on Truist Financial in a research report on Monday. Finally, Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.59.

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.