Mcrae Capital Management Inc. Purchases 11,105 Shares of Truist Financial Corporation $TFC

Mcrae Capital Management Inc. raised its position in Truist Financial Corporation (NYSE:TFC) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 302,079 shares of the insurance provider’s stock after buying an additional 11,105 shares during the quarter. Truist Financial comprises about 2.7% of Mcrae Capital Management Inc.’s portfolio, making the stock its 18th largest position. Mcrae Capital Management Inc.’s holdings in Truist Financial were worth $12,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the first quarter valued at approximately $25,000. Princeton Global Asset Management LLC acquired a new stake in shares of Truist Financial in the 2nd quarter valued at $30,000. Motco increased its stake in shares of Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares during the last quarter. Ramirez Asset Management Inc. increased its stake in shares of Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after buying an additional 468 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.1%

NYSE:TFC opened at $44.01 on Friday. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $56.30 billion, a PE ratio of 11.83, a P/E/G ratio of 1.20 and a beta of 0.92. The firm’s 50 day simple moving average is $44.84 and its 200 day simple moving average is $43.00.

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, beating 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 firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The company’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. On average, research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on TFC. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Piper Sandler set a $48.00 price target on shares of Truist Financial in a research note on Monday, October 20th. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 21st. UBS Group set a $55.00 price objective on shares of Truist Financial in a research note on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of 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 investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.