Geode Capital Management LLC Has $1.21 Billion Position in Truist Financial Corporation $TFC

Geode Capital Management LLC boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,191,122 shares of the insurance provider’s stock after acquiring an additional 74,728 shares during the quarter. Geode Capital Management LLC owned 2.19% of Truist Financial worth $1,205,855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares during the last quarter. CWM LLC boosted its stake in Truist Financial by 11.7% in the first quarter. CWM LLC now owns 56,717 shares of the insurance provider’s stock worth $2,334,000 after purchasing an additional 5,933 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Truist Financial by 1.7% during the first quarter. Bleakley Financial Group LLC now owns 38,358 shares of the insurance provider’s stock worth $1,578,000 after purchasing an additional 624 shares during the last quarter. Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Truist Financial by 161.5% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,303 shares of the insurance provider’s stock worth $753,000 after purchasing an additional 11,305 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its stake in shares of Truist Financial by 21.6% in the first quarter. Wealthfront Advisers LLC now owns 222,228 shares of the insurance provider’s stock valued at $9,145,000 after buying an additional 39,430 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.7%

Shares of NYSE:TFC opened at $45.61 on Thursday. The company has a 50 day moving average price of $44.73 and a two-hundred day moving average price of $43.28. 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 company has a market capitalization of $58.35 billion, a PE ratio of 12.26, a PEG 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 issued 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. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter last year, the business posted $0.97 EPS. The firm’s revenue 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. Analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on TFC shares. Morgan Stanley upped their price target on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. UBS Group set a $55.00 price objective on shares of Truist Financial in a research report on Tuesday, October 21st. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Finally, Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two investment 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 stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $50.59.

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.