Truist Financial Corporation $TFC Shares Bought by Simmons Bank

Simmons Bank increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 4.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 60,851 shares of the insurance provider’s stock after acquiring an additional 2,699 shares during the period. Simmons Bank’s holdings in Truist Financial were worth $2,616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the first quarter worth $25,000. Princeton Global Asset Management LLC acquired a new position in shares of Truist Financial during the 2nd quarter worth $30,000. Motco raised its stake 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 buying an additional 649 shares during the last quarter. Ramirez Asset Management Inc. raised its stake 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 buying an additional 300 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 468 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TFC shares. Evercore ISI lifted their target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock 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 research report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, October 21st. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Two investment 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.59.

Truist Financial Trading Up 0.8%

TFC stock opened at $44.08 on Thursday. The company has a market cap of $56.84 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.20 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $44.90 and a 200-day simple moving average of $43.00. 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 data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend 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.