Versor Investments LP Takes $654,000 Position in Truist Financial Corporation $TFC

Versor Investments LP bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,208 shares of the insurance provider’s stock, valued at approximately $654,000.

Several other large investors have also recently made changes to their positions in the business. Foster Victor Wealth Advisors LLC increased its position in shares of Truist Financial by 0.4% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock valued at $2,804,000 after purchasing an additional 242 shares during the last quarter. MGO One Seven LLC increased its position in shares of Truist Financial by 0.9% during the 2nd quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock valued at $1,240,000 after purchasing an additional 246 shares during the last quarter. Klingman & Associates LLC increased its holdings in Truist Financial by 2.2% in the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after acquiring an additional 248 shares during the last quarter. Haverford Trust Co raised its stake in Truist Financial by 3.5% in the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 262 shares during the period. Finally, Keystone Financial Group Inc. raised its stake in Truist Financial by 1.3% in the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after acquiring an additional 266 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 1.0%

TFC stock opened at $44.17 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $56.96 billion, a PE ratio of 11.87, a PEG ratio of 1.20 and a beta of 0.88. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a 50-day simple moving average of $45.01 and a two-hundred day simple moving average of $42.93.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $5.24 billion during 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 company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s payout ratio is presently 55.91%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Morgan Stanley boosted their price objective on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Piper Sandler set a $48.00 price objective on Truist Financial in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. 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. 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 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.