Wellington Shields Capital Management LLC Raises Stock Holdings in Truist Financial Corporation $TFC

Wellington Shields Capital Management LLC lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,061 shares of the insurance provider’s stock after purchasing an additional 4,069 shares during the quarter. Truist Financial accounts for approximately 0.7% of Wellington Shields Capital Management LLC’s portfolio, making the stock its 28th largest position. Wellington Shields Capital Management LLC’s holdings in Truist Financial were worth $4,388,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Amundi grew its holdings in shares of Truist Financial by 4.6% during the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after purchasing an additional 1,091,311 shares in the last quarter. Invesco Ltd. lifted its position in 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 buying an additional 3,188,999 shares during the last quarter. American Century Companies Inc. lifted its position in 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 buying an additional 2,158,639 shares during the last quarter. Federated Hermes Inc. lifted its position in Truist Financial by 0.9% in the 1st quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock worth $391,404,000 after buying an additional 89,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Truist Financial by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock worth $330,408,000 after buying an additional 408,726 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $44.68 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market cap of $57.61 billion, a PE ratio of 12.01, a P/E/G ratio of 1.20 and a beta of 0.88. The business has a 50 day moving average of $45.04 and a 200 day moving average of $42.87. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm’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 earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued 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 is Friday, November 14th. Truist Financial’s dividend payout ratio is currently 55.91%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Piper Sandler set a $48.00 target price on Truist Financial in a research report on Monday, October 20th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Evercore ISI boosted their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. UBS Group set a $55.00 target price on Truist Financial in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Two 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 stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price 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.