Prospera Financial Services Inc Acquires 3,950 Shares of Truist Financial Corporation $TFC

Prospera Financial Services Inc increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 8.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,579 shares of the insurance provider’s stock after purchasing an additional 3,950 shares during the period. Prospera Financial Services Inc’s holdings in Truist Financial were worth $2,218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial during the first quarter worth $25,000. Aspect Partners LLC grew its position in Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Truist Financial in the second quarter worth $30,000. Motco lifted its stake in shares of Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after buying an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. grew its holdings in shares of Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.9%

Truist Financial stock opened at $45.13 on Tuesday. The business’s 50-day moving average price is $44.77 and its 200 day moving average price is $43.21. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market cap of $57.73 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared 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 yield of 4.6%. Truist Financial’s dividend payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TFC. Morgan Stanley raised their target price 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. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 21st. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average 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.