CNB Bank Sells 1,183 Shares of Truist Financial Corporation $TFC

CNB Bank trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 21.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,357 shares of the insurance provider’s stock after selling 1,183 shares during the period. CNB Bank’s holdings in Truist Financial were worth $187,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TFC. Morgan Stanley boosted their price target on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Evercore ISI upped their price objective 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. Two equities research 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. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Price Performance

Shares of TFC opened at $44.17 on Friday. The firm has a market cap of $56.96 billion, a PE ratio of 11.87, a P/E/G ratio of 1.19 and a beta of 0.88. 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 firm has a fifty day simple moving average of $45.06 and a two-hundred day simple moving average of $42.46. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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 analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio is presently 55.91%.

About Truist Financial

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.