KBC Group NV Sells 1,494,286 Shares of Truist Financial Corporation $TFC

KBC Group NV reduced its position in Truist Financial Corporation (NYSE:TFC) by 74.6% in the second quarter, Holdings Channel.com reports. The fund owned 508,626 shares of the insurance provider’s stock after selling 1,494,286 shares during the quarter. KBC Group NV’s holdings in Truist Financial were worth $21,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Hawaiian Bank boosted its holdings in shares of Truist Financial by 8.6% in the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 948 shares in the last quarter. Credit Agricole S A boosted its position in Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock valued at $20,591,000 after buying an additional 216,672 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in shares of Truist Financial by 73.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 46,626 shares of the insurance provider’s stock worth $1,919,000 after purchasing an additional 19,820 shares during the last quarter. Empower Advisory Group LLC increased its stake in shares of Truist Financial by 319.8% during the first quarter. Empower Advisory Group LLC now owns 29,143 shares of the insurance provider’s stock valued at $1,199,000 after buying an additional 22,201 shares during the period. Finally, United Bank raised its holdings in Truist Financial by 19.0% in the 1st quarter. United Bank now owns 90,148 shares of the insurance provider’s stock worth $3,710,000 after purchasing an additional 14,366 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.7%

Shares of Truist Financial stock opened at $45.34 on Friday. The stock has a market cap of $58.00 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. 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 firm’s 50-day moving average is $44.69 and its two-hundred day moving average is $43.29.

Truist Financial (NYSE:TFC) last released 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. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. The company’s quarterly revenue 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. As a group, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. Truist Financial’s payout ratio is presently 55.91%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TFC. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Piper Sandler set a $48.00 price objective on Truist Financial in a report on Monday, October 20th. Evercore ISI upped their price target 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. Morgan Stanley increased their price target on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Two investment 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 company. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price 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.