Capital Investment Counsel Inc Has $2.08 Million Holdings in Truist Financial Corporation $TFC

Capital Investment Counsel Inc lessened its stake in shares of Truist Financial Corporation (NYSE:TFC) by 9.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 48,266 shares of the insurance provider’s stock after selling 4,959 shares during the period. Capital Investment Counsel Inc’s holdings in Truist Financial were worth $2,075,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at $25,000. Aspect Partners LLC increased its position in shares of Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in Truist Financial during the 2nd quarter valued at about $30,000. Motco boosted its position in Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares in the last quarter. Finally, Ramirez Asset Management Inc. boosted its position in Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after buying an additional 300 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 0.7%

NYSE:TFC opened at $45.61 on Thursday. The company has a market cap of $58.35 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.20 and a beta of 0.92. 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 price is $44.73 and its two-hundred day moving average price is $43.28. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06.

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

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 yield of 4.6%. Truist Financial’s dividend payout ratio is presently 55.91%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TFC. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, October 21st. Evercore ISI lifted their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.