Truist Financial Corporation $TFC Shares Bought by Prospera Financial Services Inc

Prospera Financial Services Inc raised its holdings in Truist Financial Corporation (NYSE:TFC) by 8.3% during the 2nd quarter, Holdings Channel reports. The firm owned 51,579 shares of the insurance provider’s stock after buying an additional 3,950 shares during the quarter. Prospera Financial Services Inc’s holdings in Truist Financial were worth $2,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Amundi lifted its position in shares of Truist Financial by 4.6% during the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after buying an additional 1,091,311 shares in the last quarter. Invesco Ltd. increased its holdings in Truist Financial by 32.0% in 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 in the last quarter. American Century Companies Inc. increased its holdings in Truist Financial by 21.8% in 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 in the last quarter. Federated Hermes Inc. raised its position in Truist Financial by 0.9% during the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock worth $391,404,000 after acquiring an additional 89,373 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Truist Financial by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock valued at $330,408,000 after purchasing an additional 408,726 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Trading Up 0.9%

TFC opened at $45.13 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $44.77 and its two-hundred day simple moving average is $43.21. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The firm has a market capitalization of $57.73 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts expect 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 paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. Truist Financial’s dividend payout ratio (DPR) is 55.91%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, October 21st. Evercore ISI boosted their price objective on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $50.59.

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.