South Dakota Investment Council Increases Position in Truist Financial Corporation $TFC

South Dakota Investment Council raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 298,964 shares of the insurance provider’s stock after purchasing an additional 2,400 shares during the period. South Dakota Investment Council’s holdings in Truist Financial were worth $12,852,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TFC. First Hawaiian Bank raised its stake in shares of Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 948 shares during the last quarter. Code Waechter LLC purchased a new stake in shares of Truist Financial during the first quarter valued at $365,000. Credit Agricole S A increased its holdings in Truist Financial by 76.4% in the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after buying an additional 216,672 shares in the last quarter. Adapt Wealth Advisors LLC raised its position in Truist Financial by 78.9% in the 1st quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock worth $842,000 after buying an additional 9,021 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in Truist Financial by 73.9% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 46,626 shares of the insurance provider’s stock worth $1,919,000 after buying an additional 19,820 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

NYSE:TFC opened at $44.68 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day simple moving average of $45.04 and a two-hundred day simple moving average of $42.87. The firm has a market capitalization of $57.61 billion, a PE ratio of 12.01, a P/E/G ratio of 1.20 and a beta of 0.88. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. The firm had revenue of $5.24 billion for 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 business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter 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. Analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio is presently 55.91%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TFC. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Evercore ISI upped their price objective 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. UBS Group set a $55.00 target price on Truist Financial in a research report on Tuesday, October 21st. Finally, Piper Sandler set a $48.00 price target on Truist Financial in a research note on Monday, October 20th. Two investment 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 stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus 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.