Ethic Inc. Has $7.32 Million Stake in Truist Financial Corporation $TFC

Ethic Inc. decreased its position in shares of Truist Financial Corporation (NYSE:TFC) by 1.6% in the second quarter, Holdings Channel reports. The fund owned 171,693 shares of the insurance provider’s stock after selling 2,767 shares during the period. Ethic Inc.’s holdings in Truist Financial were worth $7,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TFC. Brighton Jones LLC lifted 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. GAMMA Investing LLC lifted its position in Truist Financial by 7.9% during the 1st quarter. GAMMA Investing LLC now owns 28,101 shares of the insurance provider’s stock worth $1,156,000 after acquiring an additional 2,061 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Truist Financial by 4.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 353,690 shares of the insurance provider’s stock worth $14,554,000 after acquiring an additional 13,886 shares during the last quarter. Continuum Advisory LLC lifted its position in Truist Financial by 5.3% during the 1st quarter. Continuum Advisory LLC now owns 9,565 shares of the insurance provider’s stock worth $394,000 after acquiring an additional 481 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Truist Financial by 2.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 138,276 shares of the insurance provider’s stock worth $5,690,000 after acquiring an additional 2,986 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several research reports. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. UBS Group set a $55.00 price objective on shares of Truist Financial in a report on Tuesday. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Piper Sandler set a $48.00 price objective on shares of Truist Financial in a report on Monday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.59.

Truist Financial Price Performance

NYSE:TFC opened at $43.60 on Thursday. The firm has a market cap of $56.22 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. 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 company’s 50-day moving average price is $45.10 and its two-hundred day moving average price is $42.34.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates 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 for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio is presently 55.91%.

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.