10,203 Shares in Truist Financial Corporation $TFC Acquired by MQS Management LLC

MQS Management LLC purchased a new stake in Truist Financial Corporation (NYSE:TFC) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 10,203 shares of the insurance provider’s stock, valued at approximately $439,000.

Other hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank increased its stake in Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after purchasing an additional 948 shares during the last quarter. Code Waechter LLC purchased a new position in Truist Financial in the first quarter valued at approximately $365,000. Pinnacle Financial Partners Inc increased its stake in Truist Financial by 55.1% in the first quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock valued at $5,530,000 after purchasing an additional 47,717 shares during the last quarter. Credit Agricole S A increased its stake in Truist Financial by 76.4% in the first quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock valued at $20,591,000 after purchasing an additional 216,672 shares during the last quarter. Finally, Adapt Wealth Advisors LLC increased its stake in Truist Financial by 78.9% in the first quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock valued at $842,000 after purchasing an additional 9,021 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on TFC shares. 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. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Friday. Evercore ISI increased their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Finally, TD Cowen raised 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 research 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 company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Price Performance

TFC stock opened at $44.17 on Friday. The company has a market capitalization of $56.96 billion, a P/E ratio of 11.87, a PEG ratio of 1.21 and a beta of 0.88. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The business has a 50 day simple moving average of $45.06 and a 200-day simple moving average of $42.51. 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 (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 firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

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

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.