Nordea Investment Management AB Purchases 6,605 Shares of Truist Financial Corporation $TFC

Nordea Investment Management AB lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,812 shares of the insurance provider’s stock after acquiring an additional 6,605 shares during the period. Nordea Investment Management AB’s holdings in Truist Financial were worth $4,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $25,000. Centennial Bank AR lifted its holdings in shares of Truist Financial by 360.2% during the 1st 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. Motco lifted its holdings in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares during the period. Ramirez Asset Management Inc. lifted its stake in Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.9%

Shares of NYSE TFC opened at $43.83 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The firm has a 50 day moving average price of $45.12 and a two-hundred day moving average price of $42.33. The stock has a market cap of $56.52 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88.

Truist Financial (NYSE:TFC) last announced its quarterly 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 firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the prior year, the company posted $0.97 EPS. The company’s revenue was up 1.9% on a year-over-year basis. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio is 55.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Keefe, Bruyette & Woods increased their price objective 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. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Piper Sandler set a $48.00 price objective on shares of Truist Financial in a research note on Monday. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Two investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.