Advisors Capital Management LLC Has $19.95 Million Stock Holdings in Truist Financial Corporation $TFC

Advisors Capital Management LLC grew its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 1.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 464,085 shares of the insurance provider’s stock after buying an additional 6,330 shares during the period. Advisors Capital Management LLC’s holdings in Truist Financial were worth $19,951,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Intrua Financial LLC boosted its stake in Truist Financial by 7.8% during the second quarter. Intrua Financial LLC now owns 22,572 shares of the insurance provider’s stock worth $970,000 after acquiring an additional 1,633 shares in the last quarter. Clearstead Trust LLC increased its stake in Truist Financial by 55.0% in the second quarter. Clearstead Trust LLC now owns 2,861 shares of the insurance provider’s stock valued at $123,000 after purchasing an additional 1,015 shares in the last quarter. Arvest Bank Trust Division raised its holdings in shares of Truist Financial by 1.7% during the second quarter. Arvest Bank Trust Division now owns 57,258 shares of the insurance provider’s stock valued at $2,462,000 after purchasing an additional 931 shares during the period. MV Capital Management Inc. boosted its position in shares of Truist Financial by 14.5% during the 2nd quarter. MV Capital Management Inc. now owns 3,912 shares of the insurance provider’s stock worth $168,000 after purchasing an additional 496 shares in the last quarter. Finally, ABN Amro Investment Solutions acquired a new stake in shares of Truist Financial in the 2nd quarter valued at about $4,783,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TFC shares. Piper Sandler set a $48.00 price objective on Truist Financial in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods raised 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, October 20th. Finally, Morgan Stanley boosted their target price on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Trading Down 0.7%

NYSE:TFC opened at $45.34 on Friday. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The firm’s 50 day moving average is $44.69 and its 200 day moving average is $43.29. The stock has a market capitalization of $58.00 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 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 business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The company’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. Sell-side analysts expect 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. Investors of record on Friday, November 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.6%. Truist Financial’s dividend payout ratio (DPR) is currently 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.