Truist Financial Corporation $TFC Position Boosted by Howard Capital Management Inc.

Howard Capital Management Inc. raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 14.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,724 shares of the insurance provider’s stock after buying an additional 1,084 shares during the period. Howard Capital Management Inc.’s holdings in Truist Financial were worth $375,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Foster Victor Wealth Advisors LLC boosted its stake in shares of Truist Financial by 0.4% during the 2nd 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 in the last quarter. MGO One Seven LLC boosted its stake in shares of 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 acquiring an additional 246 shares in the last quarter. Klingman & Associates LLC boosted its position in shares of Truist Financial by 2.2% in the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 248 shares during the period. Haverford Trust Co boosted its position in shares of 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 period. Finally, Keystone Financial Group Inc. boosted its position in shares of 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 period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 1.0%

Shares of NYSE:TFC opened at $43.89 on Thursday. The firm has a fifty day moving average of $45.06 and a two-hundred day moving average of $42.71. The firm has a market capitalization of $56.59 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. 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 released its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm 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 revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

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 paid a $0.52 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. Truist Financial’s payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Evercore ISI increased their price target 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 reaffirmed an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Piper Sandler set a $48.00 price objective on shares of Truist Financial in a research note on Monday, October 20th. UBS Group set a $55.00 target price on Truist Financial in a research report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods raised their target price on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Two investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.