Truist Financial Corporation $TFC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Truist Financial Corporation (NYSE:TFC) by 8.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,728,290 shares of the insurance provider’s stock after selling 672,198 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of Truist Financial worth $332,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TFC. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial during the first quarter worth $25,000. Centennial Bank AR grew its holdings 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 period. Princeton Global Asset Management LLC acquired a new stake in shares of Truist Financial during the 2nd quarter worth about $30,000. Motco raised its holdings in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. lifted its position in Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Monday, October 20th. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Tuesday, October 21st. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Piper Sandler set a $48.00 price target on Truist Financial in a research report on Monday, October 20th. Finally, Evercore ISI lifted their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Trading Down 1.2%

NYSE:TFC opened at $43.69 on Wednesday. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The firm has a market cap of $56.33 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $44.96 and a 200 day moving average price of $42.99.

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, beating analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.8%. The ex-dividend date is Friday, November 14th. Truist Financial’s payout ratio is 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.