Mayfair Advisory Group LLC Sells 2,000 Shares of Truist Financial Corporation $TFC

Mayfair Advisory Group LLC lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,597 shares of the insurance provider’s stock after selling 2,000 shares during the quarter. Mayfair Advisory Group LLC’s holdings in Truist Financial were worth $672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new position in Truist Financial during the first quarter valued at $25,000. Aspect Partners LLC increased its stake in Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 268 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Truist Financial in the 2nd quarter valued at approximately $30,000. Ramirez Asset Management Inc. boosted its holdings in shares of Truist Financial by 60.0% in 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 period. Finally, Meeder Asset Management Inc. increased its position in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on TFC. Weiss Ratings restated a “buy (b-)” rating on shares of Truist Financial in a report on Tuesday. Evercore ISI boosted their target price 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. UBS Group set a $55.00 price objective on Truist Financial in a report on Tuesday, October 21st. Piper Sandler set a $48.00 target price on Truist Financial in a research note on Monday, October 20th. Finally, Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

Truist Financial Trading Down 0.1%

Shares of NYSE:TFC opened at $46.27 on Thursday. The company has a market capitalization of $59.19 billion, a PE ratio of 12.44, a P/E/G ratio of 1.20 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $48.53. The business’s fifty day simple moving average is $44.65 and its 200-day simple moving average is $43.71.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter last year, the company earned $0.97 earnings per share. The firm’s revenue for the quarter 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, equities 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 disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, November 14th. Truist Financial’s payout ratio is 55.91%.

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.