Police & Firemen s Retirement System of New Jersey Purchases 4,222 Shares of Truist Financial Corporation $TFC

Police & Firemen s Retirement System of New Jersey raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,046 shares of the insurance provider’s stock after purchasing an additional 4,222 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Truist Financial were worth $8,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Hawaiian Bank lifted its holdings in shares of Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock worth $493,000 after acquiring an additional 948 shares during the last quarter. Credit Agricole S A increased its position in Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after purchasing an additional 216,672 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Truist Financial by 73.9% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 46,626 shares of the insurance provider’s stock valued at $1,919,000 after purchasing an additional 19,820 shares during the last quarter. Empower Advisory Group LLC boosted its position in Truist Financial by 319.8% in the first quarter. Empower Advisory Group LLC now owns 29,143 shares of the insurance provider’s stock valued at $1,199,000 after buying an additional 22,201 shares in the last quarter. Finally, Inspire Trust Co. N.A. boosted its position in Truist Financial by 9.8% in the first quarter. Inspire Trust Co. N.A. now owns 90,000 shares of the insurance provider’s stock valued at $3,704,000 after buying an additional 8,000 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TFC shares. Morgan Stanley upped their price target on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Trading Down 0.7%

TFC opened at $45.34 on Friday. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a fifty day moving average of $44.69 and a 200-day moving average of $43.29. The stock has a market cap 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 quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last released its 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 business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. Truist Financial’s revenue for the quarter 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. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced 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 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.