Camden National Bank Has $2.81 Million Stock Holdings in Truist Financial Corporation $TFC

Camden National Bank reduced its position in Truist Financial Corporation (NYSE:TFC) by 2.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 65,295 shares of the insurance provider’s stock after selling 1,605 shares during the period. Camden National Bank’s holdings in Truist Financial were worth $2,807,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Truist Financial by 1.3% in the second quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock valued at $5,177,722,000 after buying an additional 1,529,478 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Truist Financial by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock worth $1,205,855,000 after acquiring an additional 74,728 shares during the last quarter. Amundi raised its stake in Truist Financial by 4.6% in the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after acquiring an additional 1,091,311 shares during the period. Invesco Ltd. raised its stake in Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after acquiring an additional 3,188,999 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after purchasing an additional 2,158,639 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $45.46 on Friday. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The company’s 50 day moving average price is $44.58 and its two-hundred day moving average price is $43.53. The firm has a market cap of $58.15 billion, a PE ratio of 12.22, a PEG ratio of 1.20 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. 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. Equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio is presently 55.91%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TFC shares. UBS Group set a $55.00 price objective on shares of Truist Financial in a report on Tuesday, October 21st. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. 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 report on Monday, October 20th. Morgan Stanley raised their price objective on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Finally, TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Truist Financial presently has an average 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.