Truist Financial Corporation $TFC Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in Truist Financial Corporation (NYSE:TFC) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,327 shares of the insurance provider’s stock after selling 572 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Truist Financial were worth $2,711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Foster Victor Wealth Advisors LLC raised its holdings in shares of Truist Financial by 0.4% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock valued at $2,804,000 after purchasing an additional 242 shares in the last quarter. Klingman & Associates LLC raised its holdings in shares of Truist Financial by 2.2% in the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 248 shares in the last quarter. Haverford Trust Co raised its holdings in shares of Truist Financial by 3.5% in the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 262 shares in the last quarter. Keystone Financial Group Inc. raised its holdings in shares of Truist Financial by 1.3% in the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after purchasing an additional 266 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of Truist Financial by 8.0% in the 1st quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 288 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TFC shares. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Morgan Stanley lifted their price target on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Piper Sandler set a $48.00 price target on shares of Truist Financial in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Trading Up 0.9%

NYSE TFC opened at $43.83 on Wednesday. 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 firm has a market cap of $56.52 billion, a PE ratio of 11.78, a P/E/G ratio of 1.20 and a beta of 0.88. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The firm’s fifty day moving average is $45.12 and its two-hundred day moving average is $42.33.

Truist Financial (NYSE:TFC) last issued its 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. The business had revenue of $5.24 billion for 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 business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

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