Associated Banc Corp Reduces Position in Truist Financial Corporation $TFC

Associated Banc Corp decreased its holdings in Truist Financial Corporation (NYSE:TFC) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,457 shares of the insurance provider’s stock after selling 5,708 shares during the period. Associated Banc Corp’s holdings in Truist Financial were worth $5,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TFC. Wealth Preservation Advisors LLC purchased a new position in Truist Financial in the 1st quarter valued at approximately $25,000. Aspect Partners LLC lifted its position in shares of Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 268 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Truist Financial in the second quarter worth $30,000. Ramirez Asset Management Inc. grew its position in shares of Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.8%

Shares of Truist Financial stock opened at $46.30 on Wednesday. The company has a 50 day simple moving average of $44.63 and a two-hundred day simple moving average of $43.69. The firm has a market cap of $59.23 billion, a PE ratio of 12.45, a PEG ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $48.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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 net margin of 16.84% and a return on equity of 8.73%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter last year, the company posted $0.97 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. 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 fiscal 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 paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.5%. Truist Financial’s payout ratio is 55.91%.

Analyst Ratings Changes

Several brokerages have commented on TFC. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Piper Sandler set a $48.00 price objective on shares of Truist Financial in a research note on Monday, October 20th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Finally, TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

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.