Carlson Capital L.P. Invests $911,000 in Truist Financial Corporation $TFC

Carlson Capital L.P. purchased a new position in Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,200 shares of the insurance provider’s stock, valued at approximately $911,000. Truist Financial makes up about 0.4% of Carlson Capital L.P.’s portfolio, making the stock its 14th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Prosperity Consulting Group LLC increased its stake in Truist Financial by 2.4% during the 1st quarter. Prosperity Consulting Group LLC now owns 13,338 shares of the insurance provider’s stock worth $549,000 after buying an additional 315 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Truist Financial by 26.8% during the first quarter. Mackenzie Financial Corp now owns 152,848 shares of the insurance provider’s stock valued at $6,290,000 after acquiring an additional 32,313 shares during the last quarter. Norden Group LLC lifted its position in shares of Truist Financial by 36.3% in the first quarter. Norden Group LLC now owns 6,648 shares of the insurance provider’s stock valued at $274,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake 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 worth $36,000 after acquiring an additional 468 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on TFC. Evercore ISI increased their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Morgan Stanley boosted 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Finally, 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, October 21st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Truist Financial Price Performance

Truist Financial stock opened at $46.27 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $44.65 and a 200 day moving average price of $43.71. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $48.53. The stock has a market cap of $59.19 billion, a P/E ratio of 12.44, a PEG ratio of 1.20 and a beta of 0.92.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results 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. 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 revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced 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 dividend payout ratio (DPR) is 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.