Vise Technologies Inc. Purchases Shares of 48,813 Truist Financial Corporation $TFC

Vise Technologies Inc. acquired a new position in shares of Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 48,813 shares of the insurance provider’s stock, valued at approximately $2,098,000.

Other hedge funds have also made changes to their positions in the company. First Hawaiian Bank increased its stake in Truist Financial by 8.6% during the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock worth $493,000 after buying an additional 948 shares during the period. Credit Agricole S A grew its stake in shares of Truist Financial by 76.4% during the first quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock valued at $20,591,000 after acquiring an additional 216,672 shares in the last quarter. Empower Advisory Group LLC increased its position in shares of Truist Financial by 319.8% during the first quarter. Empower Advisory Group LLC now owns 29,143 shares of the insurance provider’s stock worth $1,199,000 after acquiring an additional 22,201 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Truist Financial by 73.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 46,626 shares of the insurance provider’s stock worth $1,919,000 after acquiring an additional 19,820 shares in the last quarter. Finally, Inspire Trust Co. N.A. lifted its stake in shares of Truist Financial by 9.8% in the first quarter. Inspire Trust Co. N.A. now owns 90,000 shares of the insurance provider’s stock worth $3,704,000 after acquiring an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI upped their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Morgan Stanley upped their price target on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, October 21st. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Stock Up 0.4%

NYSE:TFC opened at $45.32 on Wednesday. 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 50 day moving average of $44.74 and a 200-day moving average of $43.26. The firm has a market capitalization of $57.98 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06.

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 firm 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 firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend payout ratio (DPR) is 55.91%.

Truist Financial Company 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.