Nordea Investment Management AB Has $4.91 Million Holdings in Truist Financial Corporation $TFC

Nordea Investment Management AB lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 6.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 113,812 shares of the insurance provider’s stock after purchasing an additional 6,605 shares during the quarter. Nordea Investment Management AB’s holdings in Truist Financial were worth $4,907,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Foster Victor Wealth Advisors LLC increased its position in shares of Truist Financial by 0.4% during the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after buying an additional 242 shares during the period. MGO One Seven LLC boosted its stake in Truist Financial by 0.9% during the second quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after acquiring an additional 246 shares in the last quarter. Klingman & Associates LLC boosted its stake in Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after acquiring an additional 248 shares in the last quarter. Haverford Trust Co boosted its stake in Truist Financial by 3.5% during the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock worth $319,000 after acquiring an additional 262 shares in the last quarter. Finally, Keystone Financial Group Inc. boosted its stake in Truist Financial by 1.3% during the second quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock worth $942,000 after acquiring an additional 266 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.9%

TFC opened at $43.83 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50-day moving average is $45.12 and its 200 day moving average is $42.33. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm has a market capitalization of $56.52 billion, a P/E ratio of 11.78, a PEG ratio of 1.20 and a beta of 0.88.

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. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the firm earned $0.97 earnings per share. The firm’s 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. Research 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 was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TFC shares. Evercore ISI increased their target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. UBS Group set a $55.00 target price on shares of Truist Financial in a research note on Tuesday. Finally, Morgan Stanley increased their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.