Truist Financial Corporation $TFC Stock Holdings Lifted by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC grew its stake in shares of Truist Financial Corporation (NYSE:TFC) by 35.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,238 shares of the insurance provider’s stock after acquiring an additional 2,173 shares during the period. Transcend Capital Advisors LLC’s holdings in Truist Financial were worth $354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Hawaiian Bank lifted its position in shares of Truist Financial by 8.6% during the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after acquiring an additional 948 shares during the last quarter. Code Waechter LLC acquired a new stake in Truist Financial during the 1st quarter valued at $365,000. Pinnacle Financial Partners Inc raised its stake in Truist Financial by 55.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock valued at $5,530,000 after purchasing an additional 47,717 shares during the period. Credit Agricole S A raised its stake 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 valued at $20,591,000 after purchasing an additional 216,672 shares during the period. Finally, Adapt Wealth Advisors LLC raised its stake in Truist Financial by 78.9% during the 1st quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock valued at $842,000 after purchasing an additional 9,021 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TFC shares. Piper Sandler set a $48.00 target price on shares of Truist Financial in a research note on Monday, October 20th. Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. UBS Group set a $55.00 target price on shares of Truist Financial in a research note on Tuesday, October 21st. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, October 21st. Finally, Evercore ISI boosted their target price on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Stock Performance

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

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate 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%.The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a $0.52 dividend. 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 payout ratio 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.