Key Points
- Director K. David Jr. Boyer sold 5,160 shares of Truist (NYSE:TFC) on Nov. 25 at an average price of $46.45, for proceeds of $239,682, cutting his stake by 33.7% to 10,153 shares.
- Truist declared a quarterly dividend of $0.52 per share (annualized $2.08) payable Dec. 1, with an ex-dividend date of Nov. 14, implying a yield of about 4.5%.
- The firm topped quarterly expectations with $1.04 EPS versus $0.99 estimated and $5.24 billion in revenue, while analysts rate the stock a "Moderate Buy" with an average target of $50.00.
Truist Financial Corporation (NYSE:TFC - Get Free Report) Director K. David Jr. Boyer sold 5,160 shares of Truist Financial stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the sale, the director owned 10,153 shares of the company's stock, valued at $471,606.85. The trade was a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Truist Financial Price Performance
NYSE TFC opened at $46.50 on Friday. The company has a market cap of $59.48 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock's fifty day moving average price is $44.66 and its 200 day moving average price is $43.77. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $48.53.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.20 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The firm's revenue was up 1.9% compared to the same quarter last year. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.
Truist Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, November 14th. Truist Financial's payout ratio is presently 55.91%.
Analysts Set New Price Targets
Several brokerages recently issued reports on TFC. Piper Sandler set a $48.00 target price on shares of Truist Financial in a report on Monday, October 20th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Monday, October 20th. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Raymond James Financial reiterated an "outperform" rating on shares of Truist Financial in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Truist Financial in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $50.00.
Check Out Our Latest Report on TFC
Hedge Funds Weigh In On Truist Financial
A number of large investors have recently bought and sold shares of TFC. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at approximately $25,000. Aspect Partners LLC raised its stake in shares of Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider's stock worth $28,000 after buying an additional 268 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial during the 3rd quarter valued at approximately $28,000. Princeton Global Asset Management LLC purchased a new position in shares of Truist Financial during the 2nd quarter valued at approximately $30,000. Finally, Capital A Wealth Management LLC grew its stake in Truist Financial by 1,189.5% in the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 678 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.
Truist Financial Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
