Truist Financial Corporation $TFC Shares Sold by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 11.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,975 shares of the insurance provider’s stock after selling 1,518 shares during the period. Midland Wealth Advisors LLC’s holdings in Truist Financial were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ibex Wealth Advisors raised its position in shares of Truist Financial by 2.1% in the second quarter. Ibex Wealth Advisors now owns 180,528 shares of the insurance provider’s stock valued at $7,761,000 after buying an additional 3,766 shares during the last quarter. Vise Technologies Inc. acquired a new position in Truist Financial in the second quarter valued at approximately $2,098,000. First Dallas Securities Inc. lifted its stake in shares of Truist Financial by 21.5% in the 2nd quarter. First Dallas Securities Inc. now owns 9,675 shares of the insurance provider’s stock valued at $416,000 after purchasing an additional 1,714 shares during the last quarter. Allworth Financial LP boosted its stake in Truist Financial by 512.5% during the second quarter. Allworth Financial LP now owns 238,765 shares of the insurance provider’s stock worth $10,265,000 after buying an additional 199,784 shares during the period. Finally, King Luther Capital Management Corp boosted its position in shares of Truist Financial by 150.2% during the 2nd quarter. King Luther Capital Management Corp now owns 122,979 shares of the insurance provider’s stock worth $5,287,000 after purchasing an additional 73,823 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 1.6%

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

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

Truist Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TFC. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, October 20th. Piper Sandler set a $48.00 target price on shares of Truist Financial in a research report on Monday, October 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Finally, 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 research note on Tuesday, September 30th. Two research 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. According to data from MarketBeat, the company has a consensus 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.