Beverly Hills Private Wealth LLC Sells 1,405 Shares of Truist Financial Corporation $TFC

Beverly Hills Private Wealth LLC trimmed its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 18.9% in the second quarter, Holdings Channel.com reports. The fund owned 6,039 shares of the insurance provider’s stock after selling 1,405 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Truist Financial were worth $260,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Hawaiian Bank lifted its holdings in Truist Financial by 8.6% during the 1st 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 last quarter. Code Waechter LLC bought a new position in Truist Financial during the 1st quarter valued at about $365,000. Pinnacle Financial Partners Inc lifted its holdings in Truist Financial by 55.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock valued at $5,530,000 after purchasing an additional 47,717 shares during the last quarter. Credit Agricole S A lifted its holdings in Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock valued at $20,591,000 after purchasing an additional 216,672 shares during the last quarter. Finally, Adapt Wealth Advisors LLC lifted its holdings in Truist Financial by 78.9% during the 1st quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock valued at $842,000 after purchasing an additional 9,021 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 0.9%

Shares of TFC opened at $43.83 on Wednesday. The firm has a market capitalization of $56.52 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.20 and a beta of 0.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The business’s fifty day moving average price is $45.12 and its two-hundred day moving average price is $42.33. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion for 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 business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 4.7%. Truist Financial’s payout ratio is 55.91%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TFC shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Morgan Stanley raised their price objective on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Evercore ISI raised their price target on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target 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.