Truist Financial Corporation $TFC Shares Purchased by Bogart Wealth LLC

Key Points

• Bogart Wealth LLC increased its holdings in Truist Financial Corporation by 4.0% during Q2, owning 351,014 shares valued at approximately $15.09 million.
• Truist Financial reported a quarterly EPS of $1.04, exceeding analyst expectations and demonstrating a net margin of 16.84%.
• The company recently announced a quarterly dividend of $0.52 per share, equating to an annual dividend of $2.08 and a yield of 4.9%.

Bogart Wealth LLC raised its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,014 shares of the insurance provider's stock after buying an additional 13,626 shares during the period. Truist Financial comprises 0.6% of Bogart Wealth LLC's investment portfolio, making the stock its 29th largest position. Bogart Wealth LLC's holdings in Truist Financial were worth $15,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFC. Victory Capital Management Inc. lifted its position in Truist Financial by 922.9% during the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider's stock valued at $274,237,000 after buying an additional 6,012,817 shares in the last quarter. Invesco Ltd. lifted its position in shares of Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock worth $540,723,000 after purchasing an additional 3,188,999 shares in the last quarter. Nuveen LLC acquired a new position in shares of Truist Financial during the first quarter worth $117,929,000. American Century Companies Inc. lifted its position in shares of 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 in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Truist Financial by 178.0% during the first quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider's stock worth $94,228,000 after purchasing an additional 1,466,236 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 3.8%

TFC opened at $42.66 on Monday. The stock has a market capitalization of $55.01 billion, a PE ratio of 11.47, a P/E/G ratio of 1.36 and a beta of 0.88. The firm's fifty day moving average price is $45.11 and its 200 day moving average price is $42.26. 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 12-month low of $33.56 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last posted 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. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.20 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The firm's quarterly revenue 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. As a group, research analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.9%. Truist Financial's payout ratio is presently 55.91%.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the sale, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TFC. Evercore ISI boosted their target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Morgan Stanley boosted their target price on shares of Truist Financial from $48.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Raymond James Financial reissued an "outperform" rating on shares of Truist Financial in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Truist Financial in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.06.

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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