Wealthfront Advisers LLC Buys 31,008 Shares of Truist Financial Corporation $TFC

Wealthfront Advisers LLC increased its stake in Truist Financial Corporation (NYSE:TFC) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,236 shares of the insurance provider’s stock after purchasing an additional 31,008 shares during the period. Wealthfront Advisers LLC’s holdings in Truist Financial were worth $10,887,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TFC. Victory Capital Management Inc. grew its holdings in Truist Financial by 922.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after acquiring an additional 6,012,817 shares during the period. Invesco Ltd. grew its holdings in Truist Financial by 32.0% during the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after acquiring an additional 3,188,999 shares during the period. Nuveen LLC acquired a new stake in Truist Financial during the 1st quarter worth $117,929,000. American Century Companies Inc. grew its holdings in Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after acquiring an additional 2,158,639 shares during the period. Finally, National Bank of Canada FI grew its holdings in Truist Financial by 178.0% during the 1st quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock worth $94,228,000 after acquiring an additional 1,466,236 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Morgan Stanley boosted 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. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Evercore ISI boosted their price target on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Price Performance

Shares of NYSE TFC opened at $44.17 on Monday. The firm has a market cap of $56.96 billion, a PE ratio of 11.87, a PEG ratio of 1.21 and a beta of 0.88. 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 1-year low of $33.56 and a 1-year high of $49.06. The company has a fifty day moving average price of $45.06 and a 200 day moving average price of $42.54.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. Truist Financial’s dividend payout ratio is presently 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.