AlphaQuest LLC Acquires 2,058 Shares of Truist Financial Corporation $TFC

AlphaQuest LLC boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 39.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,304 shares of the insurance provider’s stock after buying an additional 2,058 shares during the period. AlphaQuest LLC’s holdings in Truist Financial were worth $314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Truist Financial by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,053,396 shares of the insurance provider’s stock valued at $131,265,000 after purchasing an additional 36,038 shares during the last quarter. Moloney Securities Asset Management LLC raised its holdings in shares of Truist Financial by 0.8% in the second quarter. Moloney Securities Asset Management LLC now owns 51,976 shares of the insurance provider’s stock worth $2,234,000 after buying an additional 409 shares during the period. Catalyst Capital Advisors LLC bought a new position in Truist Financial in the second quarter worth approximately $58,000. Carnegie Investment Counsel grew its stake in Truist Financial by 9.3% in the second quarter. Carnegie Investment Counsel now owns 60,536 shares of the insurance provider’s stock worth $2,602,000 after purchasing an additional 5,135 shares in the last quarter. Finally, FSM Wealth Advisors LLC bought a new stake in Truist Financial during the 2nd quarter valued at $672,000. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TFC shares. Morgan Stanley raised their price objective on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Evercore ISI lifted their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Tuesday, October 21st. Finally, Piper Sandler set a $48.00 price objective on Truist Financial in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.59.

Truist Financial Stock Up 0.8%

TFC stock opened at $44.68 on Friday. The firm has a market cap of $57.61 billion, a PE ratio of 12.01, a PEG ratio of 1.20 and a beta of 0.88. 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 firm’s 50 day moving average price is $45.04 and its 200-day moving average price is $42.78. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06.

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. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

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.