Truist Financial Corporation $TFC Shares Bought by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC increased its holdings in Truist Financial Corporation (NYSE:TFC) by 38.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,455 shares of the insurance provider’s stock after buying an additional 2,330 shares during the period. Daymark Wealth Partners LLC’s holdings in Truist Financial were worth $363,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC boosted its position in shares of Truist Financial by 0.4% in the second 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 during the last quarter. MGO One Seven LLC raised its position 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 valued at $1,240,000 after acquiring an additional 246 shares in the last quarter. Klingman & Associates LLC raised its holdings in shares of Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 248 shares during the period. Haverford Trust Co grew its position in shares of Truist Financial by 3.5% during the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock worth $319,000 after acquiring an additional 262 shares during the last quarter. Finally, Keystone Financial Group Inc. grew its position in 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 buying an additional 266 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. 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. Piper Sandler set a $48.00 target price on Truist Financial in a research report on Monday, October 20th. 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 report on Tuesday, September 30th. Finally, UBS Group set a $55.00 target price on Truist Financial in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $44.68 on Friday. The stock’s fifty day moving average price is $45.04 and its two-hundred day moving average price is $42.78. The firm has a market cap of $57.61 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.20 and a beta of 0.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial’s dividend payout ratio 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.