WBI Investments LLC Makes New Investment in Truist Financial Corporation $TFC

WBI Investments LLC purchased a new position in Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,746 shares of the insurance provider’s stock, valued at approximately $935,000.

Several other institutional investors have also modified their holdings of TFC. Invesco Ltd. grew its position in shares of Truist Financial by 32.0% in the 1st 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 bought a new position in Truist Financial in the first quarter valued at approximately $117,929,000. American Century Companies Inc. lifted its stake in Truist Financial by 21.8% in 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 buying an additional 2,158,639 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Truist Financial by 178.0% in 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 buying an additional 1,466,236 shares during the period. Finally, Amundi increased its position in shares of Truist Financial by 4.6% during the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after acquiring an additional 1,091,311 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 2.1%

Shares of Truist Financial stock opened at $43.93 on Tuesday. The stock has a market cap of $56.19 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The business’s 50 day moving average is $44.62 and its 200-day moving average is $43.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. Truist Financial’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal 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 issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. Truist Financial’s payout ratio is presently 55.91%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Evercore ISI boosted 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. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 21st. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings raised shares of Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial 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.