Fiduciary Family Office LLC Has $600,000 Position in Truist Financial Corporation $TFC

Key Points

• Fiduciary Family Office LLC has reduced its stake in Truist Financial Corporation by 38.8%, now owning 13,952 shares valued at $600,000.
• Other institutional investors, such as Foster Victor Wealth Advisors LLC and MGO One Seven LLC, have also adjusted their positions, with 71.28% of Truist's stock now held by institutional investors.
• Truist Financial reported $1.04 earnings per share (EPS) for the quarter, surpassing estimates, and has a dividend yield of 4.8% after announcing a quarterly dividend of $0.52 per share.

Fiduciary Family Office LLC lessened its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 38.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,952 shares of the insurance provider's stock after selling 8,838 shares during the period. Fiduciary Family Office LLC's holdings in Truist Financial were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC lifted its stake in Truist Financial by 0.4% during the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider's stock worth $2,804,000 after purchasing an additional 242 shares during the last quarter. MGO One Seven LLC raised its holdings in shares of Truist Financial by 0.9% during the 2nd 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 in the last quarter. Klingman & Associates LLC raised its holdings 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 in the last quarter. Haverford Trust Co lifted 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 last quarter. Finally, Keystone Financial Group Inc. boosted its stake in Truist Financial by 1.3% in the second quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider's stock valued at $942,000 after buying an additional 266 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the subject of several research analyst reports. Piper Sandler set a $48.00 target price on Truist Financial in a research note on Monday. Evercore ISI lifted their price target on shares of Truist Financial from $48.00 to $50.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Monday. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Truist Financial in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.63.

Truist Financial Stock Up 2.0%

Shares of NYSE TFC opened at $43.44 on Tuesday. The company has a 50 day simple moving average of $45.13 and a 200 day simple moving average of $42.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a market cap of $56.01 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company's revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts forecast that Truist Financial Corporation will post 4 EPS for the current 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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's dividend payout ratio (DPR) is currently 55.91%.

Truist Financial 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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