Keybank National Association OH Lowers Stock Position in Truist Financial Corporation $TFC

Keybank National Association OH lessened its holdings in Truist Financial Corporation (NYSE:TFC) by 6.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 90,250 shares of the insurance provider’s stock after selling 6,224 shares during the period. Keybank National Association OH’s holdings in Truist Financial were worth $3,880,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TFC. Victory Capital Management Inc. lifted its position in shares of Truist Financial by 922.9% in the 1st quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after purchasing an additional 6,012,817 shares during the period. Invesco Ltd. lifted its position in shares of Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after purchasing an additional 3,188,999 shares during the period. Nuveen LLC purchased a new stake in shares of Truist Financial in the 1st quarter worth approximately $117,929,000. American Century Companies Inc. lifted its position in shares of Truist Financial by 21.8% in the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after purchasing an additional 2,158,639 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Truist Financial by 178.0% in the 1st quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock worth $94,228,000 after purchasing an additional 1,466,236 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research reports. 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. Piper Sandler set a $48.00 target price on shares of Truist Financial in a research report on Monday, October 20th. UBS Group set a $55.00 target price on shares of Truist Financial in a research report on Tuesday, October 21st. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Finally, Evercore ISI increased their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Two investment 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. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Trading Up 0.8%

NYSE TFC opened at $44.68 on Friday. The company has a fifty day simple moving average of $45.04 and a two-hundred day simple moving average of $42.78. The stock has a market cap of $57.61 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.20 and a beta of 0.88. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

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