International Assets Investment Management LLC Cuts Stake in Truist Financial Corporation $TFC

International Assets Investment Management LLC lowered its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,420 shares of the insurance provider’s stock after selling 2,623 shares during the quarter. International Assets Investment Management LLC’s holdings in Truist Financial were worth $964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Hawaiian Bank boosted its stake in Truist Financial by 8.6% during the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after buying an additional 948 shares during the last quarter. Code Waechter LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $365,000. Pinnacle Financial Partners Inc lifted its stake in shares of Truist Financial by 55.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock worth $5,530,000 after acquiring an additional 47,717 shares during the last quarter. Credit Agricole S A lifted its stake in shares of Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after acquiring an additional 216,672 shares during the last quarter. Finally, Adapt Wealth Advisors LLC lifted its stake in shares of Truist Financial by 78.9% during the 1st quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock worth $842,000 after acquiring an additional 9,021 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TFC shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Piper Sandler set a $48.00 target price on Truist Financial in a research report on Monday. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Evercore ISI lifted their price target on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Finally, Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.63.

Truist Financial Stock Up 2.0%

Truist Financial stock opened at $43.44 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $45.13 and its two-hundred day simple moving average is $42.32. The company has a market cap of $56.01 billion, a PE ratio of 11.68, a PEG ratio of 1.36 and a beta of 0.88. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

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, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s payout ratio is 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.