Truist Financial Corporation $TFC Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 786,520 shares of the insurance provider’s stock after selling 27,781 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Truist Financial were worth $33,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the 1st quarter valued at approximately $25,000. Centennial Bank AR boosted its position in Truist Financial by 360.2% during the 1st 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 boosted its position in Truist Financial by 435.6% during the 1st 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. boosted its position in Truist Financial by 60.0% during the 2nd 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. boosted its position in 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 period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TFC. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Evercore ISI boosted their price target on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley boosted their price target on Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.06.

Truist Financial Trading Up 3.8%

Shares of Truist Financial stock opened at $42.66 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The firm has a market cap of $55.01 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88. The business has a fifty day simple moving average of $45.11 and a 200-day simple moving average of $42.22. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week 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, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. 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 fiscal year.

Truist Financial Announces Dividend

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

Insider Buying and Selling at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the sale, the insider owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by company insiders.

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.