Linscomb Wealth Inc. Buys 5,525 Shares of Truist Financial Corporation $TFC

Linscomb Wealth Inc. raised its stake in Truist Financial Corporation (NYSE:TFC) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 158,329 shares of the insurance provider’s stock after buying an additional 5,525 shares during the quarter. Linscomb Wealth Inc.’s holdings in Truist Financial were worth $6,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TFC. Victory Capital Management Inc. lifted its stake in Truist Financial by 922.9% in the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock valued at $274,237,000 after buying an additional 6,012,817 shares in the last quarter. Invesco Ltd. lifted its stake in Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after buying an additional 3,188,999 shares in the last quarter. Nuveen LLC bought a new position in Truist Financial in the first quarter valued at approximately $117,929,000. American Century Companies Inc. lifted its stake in Truist Financial by 21.8% in the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after buying an additional 2,158,639 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Truist Financial by 178.0% in the first quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock valued at $94,228,000 after buying an additional 1,466,236 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $44.29 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average price is $45.07 and its two-hundred day moving average price is $42.72. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a market capitalization of $57.11 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88.

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

Truist Financial Dividend Announcement

The company also recently declared 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. This represents a $2.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TFC shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Evercore ISI boosted their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Piper Sandler set a $48.00 price objective on shares of Truist Financial in a research report on Monday, October 20th. Finally, Morgan Stanley boosted their price objective on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” 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 assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.