Homestead Advisers Corp Reduces Stock Holdings in Truist Financial Corporation $TFC

Homestead Advisers Corp lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 16.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,056,500 shares of the insurance provider’s stock after selling 206,600 shares during the quarter. Homestead Advisers Corp’s holdings in Truist Financial were worth $45,419,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TFC. Code Waechter LLC raised its stake in shares of Truist Financial by 40.5% in the second quarter. Code Waechter LLC now owns 12,467 shares of the insurance provider’s stock valued at $536,000 after acquiring an additional 3,593 shares during the period. Bridgewater Advisors Inc. grew its holdings in Truist Financial by 7.0% during the 2nd quarter. Bridgewater Advisors Inc. now owns 7,277 shares of the insurance provider’s stock valued at $296,000 after purchasing an additional 477 shares during the last quarter. Wellington Shields Capital Management LLC raised its position in Truist Financial by 4.2% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 102,061 shares of the insurance provider’s stock worth $4,388,000 after purchasing an additional 4,069 shares during the period. Machina Capital S.A.S. bought a new stake in Truist Financial in the second quarter worth about $276,000. Finally, South Dakota Investment Council boosted its position in shares of Truist Financial by 0.8% during the second quarter. South Dakota Investment Council now owns 298,964 shares of the insurance provider’s stock valued at $12,852,000 after buying an additional 2,400 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 1.2%

Truist Financial stock opened at $43.69 on Wednesday. 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 firm has a market cap of $56.33 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.20 and a beta of 0.88. The business has a fifty day moving average of $44.96 and a two-hundred day moving average of $42.99. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping 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 firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the prior year, the business posted $0.97 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. 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 fiscal year.

Truist Financial Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group set a $55.00 price target on Truist Financial in a report on Tuesday, October 21st. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley lifted their target price on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised 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 note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Truist Financial currently 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.