Wealth Quarterback LLC Increases Stake in Truist Financial Corporation $TFC

Wealth Quarterback LLC grew its holdings in Truist Financial Corporation (NYSE:TFC) by 59.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,492 shares of the insurance provider’s stock after acquiring an additional 9,920 shares during the period. Wealth Quarterback LLC’s holdings in Truist Financial were worth $1,139,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Amundi raised its holdings in Truist Financial by 4.6% in the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after purchasing an additional 1,091,311 shares during the period. Invesco Ltd. grew its holdings in Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after purchasing an additional 3,188,999 shares during the period. American Century Companies Inc. increased its position in Truist Financial by 21.8% in the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after buying an additional 2,158,639 shares in the last quarter. Federated Hermes Inc. increased its position in Truist Financial by 0.9% in the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock worth $391,404,000 after buying an additional 89,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Truist Financial by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock worth $330,408,000 after buying an additional 408,726 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TFC. Morgan Stanley increased their target price on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. TD Cowen upgraded 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, UBS Group set a $55.00 price target on Truist Financial in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Stock Up 0.4%

Shares of 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. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The firm’s 50-day moving average price is $44.74 and its 200-day moving average price is $43.26. The stock has a market capitalization of $57.98 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.20 and a beta of 0.92.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio is presently 55.91%.

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.