258,651 Shares in Truist Financial Corporation $TFC Acquired by Midwest Trust Co

Midwest Trust Co bought a new stake in Truist Financial Corporation (NYSE:TFC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 258,651 shares of the insurance provider’s stock, valued at approximately $11,119,000.

Other large investors have also recently bought and sold shares of the company. Foster Victor Wealth Advisors LLC raised its holdings in shares of Truist Financial by 0.4% in the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after acquiring an additional 242 shares during the last quarter. MGO One Seven LLC increased its position in Truist Financial by 0.9% during the 2nd quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after purchasing an additional 246 shares in the last quarter. Klingman & Associates LLC increased its position in Truist Financial by 2.2% during the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 248 shares in the last quarter. Haverford Trust Co raised its stake in Truist Financial by 3.5% in the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 262 shares during the last quarter. Finally, Keystone Financial Group Inc. raised its stake in Truist Financial by 1.3% in the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 1.6%

Shares of TFC opened at $44.71 on Monday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company’s fifty day moving average is $44.80 and its two-hundred day moving average is $43.16. The firm has a market cap of $57.20 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its 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. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the company posted $0.97 EPS. The business’s quarterly revenue 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 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. UBS Group set a $55.00 target price on shares of Truist Financial in a research report on Tuesday, October 21st. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods boosted their price target on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.59.

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.