Hedeker Wealth LLC Purchases 2,908 Shares of Truist Financial Corporation $TFC

Hedeker Wealth LLC increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 2.9% in the second quarter, Holdings Channel reports. The institutional investor owned 103,757 shares of the insurance provider’s stock after buying an additional 2,908 shares during the period. Hedeker Wealth LLC’s holdings in Truist Financial were worth $4,461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Invesco Ltd. boosted its position in Truist Financial by 32.0% during the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after acquiring an additional 3,188,999 shares during the last quarter. Nuveen LLC bought a new stake in shares of Truist Financial in the first quarter worth $117,929,000. American Century Companies Inc. boosted its holdings in Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after purchasing an additional 2,158,639 shares during the last quarter. National Bank of Canada FI grew its position in Truist Financial by 178.0% in the first quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock valued at $94,228,000 after purchasing an additional 1,466,236 shares in the last quarter. Finally, Amundi increased its stake in Truist Financial by 4.6% in the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after buying an additional 1,091,311 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TFC shares. Piper Sandler set a $48.00 price objective on shares of Truist Financial in a research note on Monday, October 20th. Evercore ISI upped their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Finally, UBS Group set a $55.00 target price on shares of Truist Financial in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Stock Down 1.1%

Truist Financial stock opened at $44.82 on Friday. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a market cap of $57.33 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.20 and a beta of 0.92. The company’s 50-day moving average price is $44.66 and its two-hundred day moving average price is $43.37. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s 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.