Oppenheimer Asset Management Inc. Grows Stake in Truist Financial Corporation $TFC

Oppenheimer Asset Management Inc. increased its stake in Truist Financial Corporation (NYSE:TFC) by 0.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 411,103 shares of the insurance provider’s stock after acquiring an additional 1,998 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Truist Financial were worth $17,673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in Truist Financial by 10.8% in the second quarter. Brighton Jones LLC now owns 25,565 shares of the insurance provider’s stock worth $1,099,000 after acquiring an additional 2,497 shares in the last quarter. MQS Management LLC purchased a new position in Truist Financial in the second quarter worth about $439,000. Linden Thomas Advisory Services LLC grew its position in Truist Financial by 4.0% in the second quarter. Linden Thomas Advisory Services LLC now owns 27,890 shares of the insurance provider’s stock worth $1,199,000 after acquiring an additional 1,063 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs grew its position in Truist Financial by 4.0% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 52,167 shares of the insurance provider’s stock worth $2,243,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its position in Truist Financial by 30.7% in the second quarter. Focus Partners Advisor Solutions LLC now owns 34,259 shares of the insurance provider’s stock worth $1,472,000 after acquiring an additional 8,057 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $44.17 on Monday. The company has a 50 day moving average price of $45.06 and a 200-day moving average price of $42.54. 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 fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a market capitalization of $56.96 billion, a PE ratio of 11.87, a P/E/G ratio of 1.21 and a beta of 0.88.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share 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 the consensus estimate of $5.20 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. 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 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Evercore ISI boosted their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Friday. Morgan Stanley boosted their target price on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Finally, TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial 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.