Freemont Management S.A. Buys 44,000 Shares of Truist Financial Corporation $TFC

Freemont Management S.A. grew its stake in shares of Truist Financial Corporation (NYSE:TFC) by 30.7% during the second quarter, Holdings Channel reports. The institutional investor owned 187,500 shares of the insurance provider’s stock after buying an additional 44,000 shares during the period. Truist Financial comprises 1.2% of Freemont Management S.A.’s holdings, making the stock its 28th biggest position. Freemont Management S.A.’s holdings in Truist Financial were worth $8,061,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Truist Financial by 922.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after acquiring an additional 6,012,817 shares during the period. Invesco Ltd. increased its stake in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after purchasing an additional 3,188,999 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Truist Financial in the first quarter worth $117,929,000. American Century Companies Inc. raised its position in shares of 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 period. Finally, National Bank of Canada FI lifted its stake in shares of Truist Financial by 178.0% during the 1st quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock valued at $94,228,000 after buying an additional 1,466,236 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TFC shares. 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. Morgan Stanley upped their price objective on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Piper Sandler set a $48.00 price target on Truist Financial in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods upped their price target on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Two research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Trading Up 1.6%

Shares of TFC stock opened at $44.71 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The stock’s 50-day moving average price is $44.80 and its 200-day moving average price is $43.07.

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 the consensus estimate of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter last year, the business posted $0.97 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. 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 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

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.