Capital Investment Counsel Inc Sells 4,959 Shares of Truist Financial Corporation $TFC

Capital Investment Counsel Inc cut its holdings in Truist Financial Corporation (NYSE:TFC) by 9.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,266 shares of the insurance provider’s stock after selling 4,959 shares during the period. Capital Investment Counsel Inc’s holdings in Truist Financial were worth $2,075,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TFC. First Hawaiian Bank raised its position in shares of Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after purchasing an additional 948 shares during the period. Credit Agricole S A boosted its holdings in shares of Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after buying an additional 216,672 shares during the period. Empower Advisory Group LLC grew its stake in Truist Financial by 319.8% in the 1st quarter. Empower Advisory Group LLC now owns 29,143 shares of the insurance provider’s stock valued at $1,199,000 after buying an additional 22,201 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Truist Financial by 73.9% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 46,626 shares of the insurance provider’s stock worth $1,919,000 after acquiring an additional 19,820 shares during the period. Finally, Inspire Trust Co. N.A. lifted its position in Truist Financial by 9.8% during the 1st quarter. Inspire Trust Co. N.A. now owns 90,000 shares of the insurance provider’s stock worth $3,704,000 after acquiring an additional 8,000 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

TFC opened at $45.61 on Thursday. The stock’s 50 day simple moving average is $44.73 and its 200-day simple moving average is $43.28. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $58.35 billion, a PE ratio of 12.26, a P/E/G ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last issued its 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 firm had revenue of $5.24 billion during 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%.Truist Financial’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 payout ratio is 55.91%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TFC shares. UBS Group set a $55.00 price target on Truist Financial in a research report on Tuesday, October 21st. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Morgan Stanley increased their price objective 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. Finally, Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.