Ashton Thomas Private Wealth LLC Lowers Stock Holdings in Truist Financial Corporation $TFC

Ashton Thomas Private Wealth LLC lessened its stake in Truist Financial Corporation (NYSE:TFC) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,713 shares of the insurance provider’s stock after selling 442 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Truist Financial were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at approximately $25,000. Centennial Bank AR raised its stake in shares of Truist Financial by 360.2% during the first 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 second quarter worth $30,000. Motco grew its position in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares during the last quarter. Finally, Ramirez Asset Management Inc. increased its stake in Truist Financial by 60.0% in the 2nd 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 during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Up 0.8%

Shares of TFC opened at $44.68 on Friday. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. 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 has a market capitalization of $57.61 billion, a P/E ratio of 12.01, a PEG ratio of 1.20 and a beta of 0.88. The firm’s 50-day moving average is $45.04 and its two-hundred day moving average is $42.78.

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, beating analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts predict that Truist Financial Corporation will post 4 earnings per share 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. Shareholders of record on Friday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, November 14th. Truist Financial’s payout ratio is presently 55.91%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. UBS Group set a $55.00 price target on shares of Truist Financial in a report on Tuesday, October 21st. Morgan Stanley raised their price objective on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.59.

About Truist Financial

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.