ABN Amro Investment Solutions Takes $4.78 Million Position in Truist Financial Corporation $TFC

ABN Amro Investment Solutions bought a new position in shares of Truist Financial Corporation (NYSE:TFC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 111,263 shares of the insurance provider’s stock, valued at approximately $4,783,000.

Other institutional investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter worth $25,000. Aspect Partners LLC lifted its position in Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares during the period. Princeton Global Asset Management LLC purchased a new stake in Truist Financial in the second quarter valued at $30,000. Motco grew its position in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. grew its position in Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 300 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. UBS Group set a $55.00 price objective on shares of Truist Financial in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Finally, Piper Sandler set a $48.00 price target on shares of Truist Financial in a report 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 given a Hold rating to the company’s stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.59.

Truist Financial Stock Down 0.7%

TFC stock opened at $45.34 on Friday. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. 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 simple moving average of $44.69 and a 200-day simple moving average of $43.29. The stock has a market capitalization of $58.00 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.20 and a beta of 0.92.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend payout ratio is currently 55.91%.

About Truist Financial

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.