Ensign Peak Advisors Inc Boosts Stake in Truist Financial Corporation $TFC

Ensign Peak Advisors Inc raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 382,092 shares of the insurance provider’s stock after purchasing an additional 15,069 shares during the period. Ensign Peak Advisors Inc’s holdings in Truist Financial were worth $16,426,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TFC. Vanguard Group Inc. raised its position in shares of Truist Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock worth $5,177,722,000 after purchasing an additional 1,529,478 shares during the last quarter. Geode Capital Management LLC increased its stake in Truist Financial by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock valued at $1,205,855,000 after purchasing an additional 74,728 shares in the last quarter. Amundi raised its holdings in Truist Financial by 4.6% in the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after buying an additional 1,091,311 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after buying an additional 3,188,999 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Truist Financial by 21.8% during 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 during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 2.4%

Shares of TFC stock opened at $45.46 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The stock has a market cap of $58.15 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.20 and a beta of 0.92. The company has a 50 day simple moving average of $44.58 and a two-hundred day simple moving average of $43.56.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share 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 analysts’ expectations of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.6%. Truist Financial’s dividend payout ratio is presently 55.91%.

Wall Street Analyst Weigh In

A number of analysts have commented on TFC shares. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Truist Financial in a report on Wednesday. Morgan Stanley upped their target price on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. UBS Group set a $55.00 price target on shares of Truist Financial in a report on Tuesday, October 21st. Finally, TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.