Y Intercept Hong Kong Ltd Acquires 1,277 Shares of Truist Financial Corporation $TFC

Y Intercept Hong Kong Ltd increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,779 shares of the insurance provider’s stock after acquiring an additional 1,277 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Truist Financial were worth $2,484,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Foster Victor Wealth Advisors LLC boosted its stake in Truist Financial by 0.4% during the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after acquiring an additional 242 shares in the last quarter. MGO One Seven LLC boosted its stake in Truist Financial by 0.9% during the second quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after acquiring an additional 246 shares in the last quarter. Klingman & Associates LLC boosted its stake in Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after acquiring an additional 248 shares in the last quarter. Haverford Trust Co boosted its stake in Truist Financial by 3.5% during the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock worth $319,000 after acquiring an additional 262 shares in the last quarter. Finally, Keystone Financial Group Inc. boosted its stake in Truist Financial by 1.3% during the second quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock worth $942,000 after acquiring an additional 266 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.9%

TFC opened at $44.29 on Friday. 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 firm has a 50 day moving average price of $45.07 and a 200-day moving average price of $42.72. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a market capitalization of $57.11 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.20 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its quarterly earnings data 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 analysts’ expectations of $5.20 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The firm’s quarterly 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. Equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued 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 is Friday, November 14th. Truist Financial’s payout ratio is presently 55.91%.

Wall Street Analyst Weigh In

Several research firms recently commented on TFC. 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, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Evercore ISI upped their target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.