Geode Capital Management LLC Purchases 74,728 Shares of Truist Financial Corporation $TFC

Geode Capital Management LLC boosted its position in Truist Financial Corporation (NYSE:TFC) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,191,122 shares of the insurance provider’s stock after buying an additional 74,728 shares during the quarter. Geode Capital Management LLC’s holdings in Truist Financial were worth $1,205,855,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TFC. Brighton Jones LLC grew its position in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares in the last quarter. CWM LLC boosted its stake in shares of Truist Financial by 11.7% during the 1st quarter. CWM LLC now owns 56,717 shares of the insurance provider’s stock worth $2,334,000 after buying an additional 5,933 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Truist Financial by 1.7% during the 1st quarter. Bleakley Financial Group LLC now owns 38,358 shares of the insurance provider’s stock worth $1,578,000 after buying an additional 624 shares during the last quarter. Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Truist Financial by 161.5% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 18,303 shares of the insurance provider’s stock valued at $753,000 after acquiring an additional 11,305 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its position in shares of Truist Financial by 21.6% in the first quarter. Wealthfront Advisers LLC now owns 222,228 shares of the insurance provider’s stock valued at $9,145,000 after acquiring an additional 39,430 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $45.61 on Thursday. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a market capitalization of $58.35 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.20 and a beta of 0.92. The company has a 50-day simple moving average of $44.73 and a 200 day simple moving average of $43.28. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period last year, the business posted $0.97 earnings per share. The business’s revenue for the quarter 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. On average, sell-side analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company 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 yield of 4.6%. Truist Financial’s payout ratio is 55.91%.

Analysts Set New Price Targets

Several research analysts recently commented on TFC shares. Evercore ISI increased their price target 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. Piper Sandler set a $48.00 price objective on Truist Financial in a report on Monday, October 20th. 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. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, October 20th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.