Kanawha Capital Management LLC Trims Holdings in Truist Financial Corporation $TFC

Kanawha Capital Management LLC trimmed its position in Truist Financial Corporation (NYSE:TFC) by 12.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 228,630 shares of the insurance provider’s stock after selling 33,115 shares during the quarter. Kanawha Capital Management LLC’s holdings in Truist Financial were worth $9,829,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TFC. Victory Capital Management Inc. raised its stake in shares of Truist Financial by 922.9% in the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after purchasing an additional 6,012,817 shares during the last quarter. Invesco Ltd. raised its position in Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after acquiring an additional 3,188,999 shares in the last quarter. Nuveen LLC purchased a new position in Truist Financial during the first quarter valued at approximately $117,929,000. American Century Companies Inc. raised its position in Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after acquiring an additional 2,158,639 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Truist Financial by 178.0% during the first quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock valued at $94,228,000 after acquiring an additional 1,466,236 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 3.8%

Shares of TFC opened at $42.66 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The stock’s 50 day moving average is $45.11 and its two-hundred day moving average is $42.22. The firm has a market cap of $55.01 billion, a P/E ratio of 11.63, a PEG ratio of 1.31 and a beta of 0.88.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 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 analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.Truist Financial’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 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared 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 of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.9%. Truist Financial’s payout ratio is currently 56.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TFC shares. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Evercore ISI lifted their price target on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Morgan Stanley lifted their price target on Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $49.06.

Insider Activity

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider directly owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

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.