CNB Bank Has $187,000 Position in Truist Financial Corporation $TFC

CNB Bank trimmed its holdings in Truist Financial Corporation (NYSE:TFC) by 21.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,357 shares of the insurance provider’s stock after selling 1,183 shares during the quarter. CNB Bank’s holdings in Truist Financial were worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial in the 1st quarter valued at about $25,000. Centennial Bank AR raised its stake in Truist Financial by 360.2% during the 1st 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. Princeton Global Asset Management LLC acquired a new position in Truist Financial during the 2nd quarter worth approximately $30,000. Motco raised its stake in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after buying an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. raised its stake in Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after buying an additional 300 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

NYSE:TFC opened at $44.17 on Friday. The firm has a market capitalization of $56.96 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.19 and a beta of 0.88. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The stock has a fifty day moving average of $45.06 and a 200 day moving average of $42.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same quarter last year, the company earned $0.97 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.7%. Truist Financial’s payout ratio is currently 55.91%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Morgan Stanley upped their price objective on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Truist Financial 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.