Truist Financial Corporation $TFC Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its stake in Truist Financial Corporation (NYSE:TFC) by 25.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,375 shares of the insurance provider’s stock after selling 7,547 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Truist Financial were worth $975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter worth $25,000. Centennial Bank AR raised its position in Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 580 shares during the period. Motco raised its position in Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares during the period. Ramirez Asset Management Inc. raised its position in Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Finally, Meeder Asset Management Inc. raised its position in Truist Financial by 115.3% in the first 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 period. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

TFC has been the topic of a number of research analyst reports. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Morgan Stanley lifted their target price on Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.06.

Truist Financial Trading Up 3.8%

TFC opened at $42.66 on Friday. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The stock has a market capitalization of $55.01 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.31 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $45.11 and a 200 day moving average price of $42.22.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the previous year, the firm posted $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. Sell-side analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s payout ratio is presently 56.68%.

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.