Montag A & Associates Inc. Has $2.84 Million Stock Holdings in Truist Financial Corporation $TFC

Montag A & Associates Inc. lowered its stake in Truist Financial Corporation (NYSE:TFC) by 56.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,940 shares of the insurance provider’s stock after selling 85,526 shares during the quarter. Montag A & Associates Inc.’s holdings in Truist Financial were worth $2,835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TFC. Foster Victor Wealth Advisors LLC increased its holdings in 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 valued at $2,804,000 after purchasing an additional 242 shares during the last quarter. MGO One Seven LLC boosted its holdings in Truist Financial by 0.9% during the second quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after buying an additional 246 shares during the last quarter. Klingman & Associates LLC grew its position in shares of Truist Financial by 2.2% during the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after buying an additional 248 shares during the period. Haverford Trust Co grew its position in shares of Truist Financial by 3.5% during the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock worth $319,000 after buying an additional 262 shares during the period. Finally, Keystone Financial Group Inc. increased its stake 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 acquiring an additional 266 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $45.32 on Wednesday. The firm has a market cap of $57.98 billion, a P/E ratio of 12.18, a PEG ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $44.74 and its two-hundred day moving average price is $43.26.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal 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 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 4.6%. Truist Financial’s dividend payout ratio (DPR) is currently 55.91%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler set a $48.00 price objective on shares of Truist Financial in a research note on Monday, October 20th. Morgan Stanley increased their target price on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. UBS Group set a $55.00 price target on shares of Truist Financial in a report on Tuesday, October 21st. Finally, Evercore ISI raised their price objective on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Truist Financial has an average 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.