Y Intercept Hong Kong Ltd Acquires 1,277 Shares of Truist Financial Corporation $TFC

Y Intercept Hong Kong Ltd boosted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 57,779 shares of the insurance provider’s stock after buying an additional 1,277 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Truist Financial were worth $2,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Foster Victor Wealth Advisors LLC grew its position in 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 valued at $2,804,000 after buying an additional 242 shares during the period. MGO One Seven LLC grew its position 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 valued at $1,240,000 after buying an additional 246 shares during the period. Klingman & Associates LLC grew its position in Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after buying an additional 248 shares during the period. Haverford Trust Co grew its position in Truist Financial by 3.5% during the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after buying an additional 262 shares during the period. Finally, Keystone Financial Group Inc. grew its position 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 valued at $942,000 after buying an additional 266 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

TFC stock opened at $44.29 on Friday. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The company’s fifty day moving average price is $45.07 and its 200-day moving average price is $42.72. 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 company has a market capitalization of $57.11 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping 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 the consensus estimate of $5.20 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The company’s quarterly revenue 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. On average, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TFC shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley upped 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 report on Monday, October 20th. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods upped 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 report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently 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.