Schwartz Investment Counsel Inc. increased its holdings in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 841,125 shares of the insurance provider’s stock after purchasing an additional 2,430 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Truist Financial were worth $36,160,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth about $25,000. Centennial Bank AR increased its position in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Truist Financial during the 2nd quarter worth about $30,000. Motco increased its position in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the last quarter. Finally, Ramirez Asset Management Inc. increased its position in shares of Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on TFC shares. Evercore ISI raised their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Piper Sandler set a $48.00 target price on Truist Financial in a report on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their target price on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.
Truist Financial Stock Performance
Shares of TFC opened at $43.44 on Tuesday. The stock has a 50-day simple moving average of $45.13 and a 200-day simple moving average of $42.32. 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 has a market capitalization of $56.01 billion, a PE ratio of 11.68, a PEG ratio of 1.36 and a beta of 0.88. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.
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.
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