Vanguard Group Inc. Buys 1,529,478 Shares of Truist Financial Corporation $TFC

Vanguard Group Inc. boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,440,153 shares of the insurance provider’s stock after purchasing an additional 1,529,478 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Truist Financial worth $5,177,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. Frank Rimerman Advisors LLC lifted its stake in shares of Truist Financial by 29.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 39,497 shares of the insurance provider’s stock valued at $1,698,000 after purchasing an additional 9,022 shares during the period. WBI Investments LLC acquired a new position in Truist Financial in the second quarter valued at about $935,000. Dorsey & Whitney Trust CO LLC boosted its holdings in Truist Financial by 5.1% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 8,678 shares of the insurance provider’s stock worth $373,000 after buying an additional 418 shares during the last quarter. Intrust Bank NA grew its position in shares of Truist Financial by 6.8% during the 2nd quarter. Intrust Bank NA now owns 12,563 shares of the insurance provider’s stock worth $540,000 after buying an additional 796 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Truist Financial by 3.4% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 456,031 shares of the insurance provider’s stock worth $19,605,000 after buying an additional 14,972 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE TFC opened at $44.66 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $44.59 and a 200-day moving average of $43.48. The stock has a market capitalization of $57.13 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.20 and a beta of 0.92. 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 results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm 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 business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business 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 dividend on an annualized basis and a yield of 4.7%. Truist Financial’s dividend payout ratio is 55.91%.

Analysts Set New Price Targets

A number of research firms recently commented on TFC. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. 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 cut Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings raised Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, November 13th. Finally, UBS Group set a $55.00 price target on shares of Truist Financial in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Company Profile

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.