Migdal Insurance & Financial Holdings Ltd. Has $78,000 Stock Position in Truist Financial Corporation $TFC

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 35.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,819 shares of the insurance provider’s stock after selling 1,008 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Truist Financial were worth $78,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter worth $25,000. Centennial Bank AR increased its stake in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of Truist Financial during the 2nd quarter worth $30,000. Motco increased its stake in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the last quarter. Finally, Ramirez Asset Management Inc. increased its stake in shares of Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TFC. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Evercore ISI increased their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Two 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Trading Down 1.0%

Shares of NYSE:TFC opened at $43.89 on Thursday. The company has a market cap of $56.59 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.21 and a beta of 0.88. The stock’s 50-day moving average is $45.06 and its 200-day moving average is $42.71. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the business posted $0.97 EPS. The business’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. Equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. Truist Financial’s dividend payout ratio is currently 55.91%.

About Truist Financial

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.