Moors & Cabot Inc. Decreases Position in Truist Financial Corporation $TFC

Moors & Cabot Inc. lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 16.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 50,464 shares of the insurance provider’s stock after selling 9,767 shares during the quarter. Moors & Cabot Inc.’s holdings in Truist Financial were worth $2,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Equity Investment Corp lifted its holdings in shares of Truist Financial by 3.5% during the 2nd quarter. Equity Investment Corp now owns 2,257,547 shares of the insurance provider’s stock valued at $97,052,000 after purchasing an additional 77,159 shares during the last quarter. Simmons Bank lifted its holdings in shares of Truist Financial by 4.6% during the 2nd quarter. Simmons Bank now owns 60,851 shares of the insurance provider’s stock valued at $2,616,000 after purchasing an additional 2,699 shares during the last quarter. Code Waechter LLC raised its stake in Truist Financial by 40.5% in the 2nd quarter. Code Waechter LLC now owns 12,467 shares of the insurance provider’s stock worth $536,000 after acquiring an additional 3,593 shares during the last quarter. Bridgewater Advisors Inc. raised its stake in Truist Financial by 7.0% in the 2nd quarter. Bridgewater Advisors Inc. now owns 7,277 shares of the insurance provider’s stock worth $296,000 after acquiring an additional 477 shares during the last quarter. Finally, Wellington Shields Capital Management LLC raised its stake in Truist Financial by 4.2% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 102,061 shares of the insurance provider’s stock worth $4,388,000 after acquiring an additional 4,069 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $44.08 on Thursday. The business’s 50-day moving average is $44.90 and its two-hundred day moving average is $43.00. The company has a market capitalization of $56.84 billion, a P/E ratio of 11.85, a P/E/G 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. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. Truist Financial’s dividend payout ratio (DPR) is 55.91%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Piper Sandler set a $48.00 target price on Truist Financial in a research note on Monday, October 20th. Evercore ISI raised their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Keefe, Bruyette & Woods raised their target price 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. Two 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.