Freedom Investment Management Inc. Raises Stock Position in Truist Financial Corporation $TFC

Freedom Investment Management Inc. lifted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,087 shares of the insurance provider’s stock after acquiring an additional 328 shares during the quarter. Freedom Investment Management Inc.’s holdings in Truist Financial were worth $735,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TFC. Brighton Jones LLC increased its position in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares during the period. GAMMA Investing LLC increased its position in shares of Truist Financial by 7.9% during the first quarter. GAMMA Investing LLC now owns 28,101 shares of the insurance provider’s stock worth $1,156,000 after acquiring an additional 2,061 shares during the period. Golden State Wealth Management LLC increased its position in shares of Truist Financial by 133.3% during the first quarter. Golden State Wealth Management LLC now owns 5,055 shares of the insurance provider’s stock worth $208,000 after acquiring an additional 2,888 shares during the period. HBK Sorce Advisory LLC increased its position in shares of Truist Financial by 28.3% during the first quarter. HBK Sorce Advisory LLC now owns 12,615 shares of the insurance provider’s stock worth $519,000 after acquiring an additional 2,781 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in Truist Financial by 9.2% during the first quarter. Sequoia Financial Advisors LLC now owns 38,333 shares of the insurance provider’s stock valued at $1,577,000 after buying an additional 3,236 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Price Performance

NYSE TFC opened at $44.17 on Friday. The firm’s fifty day simple moving average is $45.06 and its two-hundred day simple moving average is $42.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The firm has a market capitalization of $56.96 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.19 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The business’s revenue for the quarter 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. Analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TFC. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Friday. UBS Group set a $55.00 price objective on shares of Truist Financial in a report on Tuesday. Morgan Stanley lifted their price objective on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Evercore ISI lifted their price objective 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. Finally, Piper Sandler set a $48.00 price objective on shares of Truist Financial in a report on Monday. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.