VestGen Advisors LLC Purchases 2,138 Shares of Truist Financial Corporation $TFC

VestGen Advisors LLC boosted its position in Truist Financial Corporation (NYSE:TFC) by 9.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,000 shares of the insurance provider’s stock after buying an additional 2,138 shares during the quarter. VestGen Advisors LLC’s holdings in Truist Financial were worth $1,118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TFC. West Family Investments Inc. boosted its stake in Truist Financial by 25.0% during the 2nd quarter. West Family Investments Inc. now owns 6,569 shares of the insurance provider’s stock valued at $282,000 after purchasing an additional 1,313 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Truist Financial by 100.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 874,120 shares of the insurance provider’s stock worth $37,570,000 after buying an additional 437,023 shares during the last quarter. Norges Bank acquired a new position in shares of Truist Financial during the second quarter worth approximately $487,401,000. Quadrature Capital Ltd bought a new stake in shares of Truist Financial in the second quarter valued at approximately $1,502,000. Finally, Scotia Capital Inc. grew its stake in shares of Truist Financial by 9.5% in the second quarter. Scotia Capital Inc. now owns 23,124 shares of the insurance provider’s stock worth $994,000 after acquiring an additional 2,013 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.1%

NYSE TFC opened at $46.56 on Tuesday. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $48.53. The company has a market capitalization of $59.56 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.20 and a beta of 0.92. The stock’s 50 day moving average is $44.68 and its two-hundred day moving average is $43.84. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

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, topping analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s quarterly 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. Equities analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, November 14th. Truist Financial’s payout ratio is currently 55.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TFC shares. 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 research note on Tuesday, October 21st. Evercore ISI upped their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Truist Financial in a research note on Tuesday, November 25th. Morgan Stanley boosted their price target 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. Finally, Keefe, Bruyette & Woods upped their price target on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 5,160 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total value of $239,682.00. Following the sale, the director owned 10,153 shares of the company’s stock, valued at approximately $471,606.85. This represents a 33.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

About Truist Financial

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.