Truist Financial Corporation $TFC Shares Sold by Keybank National Association OH

Keybank National Association OH lowered its holdings in Truist Financial Corporation (NYSE:TFC) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,250 shares of the insurance provider’s stock after selling 6,224 shares during the quarter. Keybank National Association OH’s holdings in Truist Financial were worth $3,880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TFC. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter worth $25,000. Centennial Bank AR increased its stake in shares of Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 580 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of Truist Financial in the second quarter worth $30,000. Motco increased its stake in shares of Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. increased its stake in shares of Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TFC shares. Morgan Stanley increased their price objective on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Evercore ISI raised their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Piper Sandler set a $48.00 target price on Truist Financial in a research report on Monday, October 20th. Finally, Keefe, Bruyette & Woods raised their target price on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Stock Up 0.8%

Shares of NYSE TFC opened at $44.68 on Friday. The company’s 50-day simple moving average is $45.04 and its 200-day simple moving average is $42.78. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The firm has a market cap of $57.61 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth 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.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (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 for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter last year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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