Truist Financial Corporation $TFC Shares Acquired by Freedom Investment Management Inc.

Freedom Investment Management Inc. lifted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 2.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,087 shares of the insurance provider’s stock after purchasing an additional 328 shares during the quarter. Freedom Investment Management Inc.’s holdings in Truist Financial were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TFC. Victory Capital Management Inc. lifted its stake in shares of Truist Financial by 922.9% during the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after buying an additional 6,012,817 shares during the period. Invesco Ltd. lifted its position in Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after purchasing an additional 3,188,999 shares during the period. Nuveen LLC acquired a new position in Truist Financial during the first quarter valued at $117,929,000. American Century Companies Inc. lifted its position in Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after purchasing an additional 2,158,639 shares during the period. Finally, National Bank of Canada FI lifted its position in Truist Financial by 178.0% during the first quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock valued at $94,228,000 after purchasing an additional 1,466,236 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TFC shares. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Friday. Piper Sandler set a $48.00 target price on shares of Truist Financial in a research report on Monday. Evercore ISI boosted their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Tuesday. Finally, UBS Group set a $55.00 target price on shares of Truist Financial in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Stock Up 1.3%

TFC opened at $44.17 on Friday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. 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 company has a fifty day moving average of $45.06 and a two-hundred day moving average of $42.46. The stock has a market capitalization of $56.96 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.19 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its quarterly earnings data 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The firm’s revenue for the quarter 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. On average, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

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