Truist Financial Corporation $TFC Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 43.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,184 shares of the insurance provider’s stock after selling 3,204 shares during the period. Westpac Banking Corp’s holdings in Truist Financial were worth $180,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TFC. Wealth Preservation Advisors LLC purchased a new stake in Truist Financial during the first quarter valued at about $25,000. Aspect Partners LLC lifted its stake in shares of Truist Financial by 71.5% in the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of Truist Financial in the 2nd quarter valued at about $30,000. Motco grew its holdings in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. grew its holdings in shares of Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 300 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Down 2.1%

NYSE TFC opened at $43.93 on Tuesday. The stock has a market cap of $56.19 billion, a P/E ratio of 11.81, a PEG ratio of 1.20 and a beta of 0.92. The company’s fifty day simple moving average is $44.62 and its 200-day simple moving average is $43.44. 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 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the business earned $0.97 EPS. The business’s revenue 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. Equities research analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial’s payout ratio is 55.91%.

Analyst Ratings Changes

Several research analysts recently commented on TFC shares. UBS Group set a $55.00 price target on shares of Truist Financial in a report on Tuesday, October 21st. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Weiss Ratings upgraded Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.