Truist Financial Corporation $TFC Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its position in shares of Truist Financial Corporation (NYSE:TFC) by 12.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 56,631 shares of the insurance provider’s stock after selling 7,926 shares during the period. Metis Global Partners LLC’s holdings in Truist Financial were worth $2,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. 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. Princeton Global Asset Management LLC purchased a new position in shares of Truist Financial during the 2nd quarter valued at approximately $30,000. Motco grew its stake 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 acquiring an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. increased its holdings in Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $44.71 on Monday. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The stock has a market cap of $57.20 billion, a PE ratio of 12.02, a P/E/G ratio of 1.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50 day moving average price of $44.80 and a 200 day moving average price of $43.16.

Truist Financial (NYSE:TFC) last issued 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 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 period in the prior year, the business earned $0.97 EPS. The firm’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 expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, October 21st. Piper Sandler set a $48.00 price target on shares of Truist Financial in a research note on Monday, October 20th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, October 20th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.59.

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.