Cwm LLC Grows Stake in Truist Financial Corporation $TFC

Key Points

• Cwm LLC increased its stake in Truist Financial Corporation by 34.5%, owning 76,277 shares valued at $3,279,000, following the acquisition of an additional 19,560 shares in the second quarter.
• Truist Financial's stock saw a 3.8% increase, closing at $42.66, with a twelve-month range between $33.56 and $49.06 and a market capitalization of $55.01 billion.
• In its recent earnings report, Truist Financial exceeded analysts' expectations, reporting $1.04 earnings per share against a forecast of $0.99, along with revenue of $5.24 billion.

Cwm LLC grew its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 34.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 76,277 shares of the insurance provider's stock after acquiring an additional 19,560 shares during the quarter. Cwm LLC's holdings in Truist Financial were worth $3,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TFC. Brighton Jones LLC increased its holdings in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock valued at $1,023,000 after acquiring an additional 14,093 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Truist Financial by 7.9% in the 1st quarter. GAMMA Investing LLC now owns 28,101 shares of the insurance provider's stock valued at $1,156,000 after acquiring an additional 2,061 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Truist Financial by 19.7% in the 1st quarter. Ritholtz Wealth Management now owns 6,738 shares of the insurance provider's stock valued at $277,000 after acquiring an additional 1,110 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Truist Financial by 21.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,886 shares of the insurance provider's stock valued at $119,000 after acquiring an additional 515 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in shares of Truist Financial by 8.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 15,828 shares of the insurance provider's stock valued at $651,000 after acquiring an additional 1,238 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Up 3.8%

Truist Financial stock opened at $42.66 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 50 day moving average of $45.11 and a two-hundred day moving average of $42.22. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. 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.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $5.20 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on TFC shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Truist Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods cut Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price for the company. in a research report on Wednesday, July 9th. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and upped their target price for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Truist Financial in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of "Moderate Buy" and an average target price of $49.06.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the firm's stock in a transaction that occurred 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 directly owned 500 shares of the company's stock, valued at $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.

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