Equity Investment Corp Raises Holdings in Truist Financial Corporation $TFC

Equity Investment Corp grew its position in Truist Financial Corporation (NYSE:TFC) by 3.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,257,547 shares of the insurance provider’s stock after purchasing an additional 77,159 shares during the quarter. Truist Financial makes up 2.0% of Equity Investment Corp’s portfolio, making the stock its 24th biggest position. Equity Investment Corp’s holdings in Truist Financial were worth $97,052,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Truist Financial in the first quarter worth about $25,000. Princeton Global Asset Management LLC purchased a new stake in shares of Truist Financial in the 2nd quarter worth approximately $30,000. Centennial Bank AR lifted its position in shares of Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the period. Motco lifted its position in shares of Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. lifted its position in shares of Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 300 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TFC has been the subject of a number of analyst reports. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Tuesday, October 21st. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Piper Sandler set a $48.00 price objective on Truist Financial in a research note on Monday, October 20th. Finally, Morgan Stanley increased their price target on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Stock Down 1.2%

Truist Financial stock opened at $43.69 on Wednesday. The business has a fifty day moving average price of $44.96 and a 200-day moving average price of $42.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The stock has a market capitalization of $56.33 billion, a price-to-earnings ratio of 11.74, 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 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period last year, the business posted $0.97 earnings per share. The firm’s 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. Equities research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

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.