Versor Investments LP Invests $654,000 in Truist Financial Corporation $TFC

Versor Investments LP acquired a new position in shares of Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, Holdings Channel reports. The fund acquired 15,208 shares of the insurance provider’s stock, valued at approximately $654,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TFC. First Hawaiian Bank raised its holdings in Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 948 shares in the last quarter. Code Waechter LLC bought a new position in Truist Financial in the first quarter worth $365,000. Credit Agricole S A raised its holdings in Truist Financial by 76.4% in the first quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after purchasing an additional 216,672 shares in the last quarter. Adapt Wealth Advisors LLC raised its holdings in Truist Financial by 78.9% in the first quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock worth $842,000 after purchasing an additional 9,021 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in Truist Financial by 73.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 46,626 shares of the insurance provider’s stock worth $1,919,000 after purchasing an additional 19,820 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 1.0%

Truist Financial stock opened at $44.17 on Tuesday. 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 one year low of $33.56 and a one year high of $49.06. The stock has a market capitalization of $56.96 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. The business’s fifty day moving average is $45.01 and its 200 day moving average is $42.93.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.20 billion. During the same period last year, the firm posted $0.97 earnings per share. Truist Financial’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. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm 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 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 dividend yield of 4.7%. Truist Financial’s dividend payout ratio (DPR) is 55.91%.

Analysts Set New Price Targets

TFC has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. UBS Group set a $55.00 price target on Truist Financial in a report on Tuesday, October 21st. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, October 21st. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Company 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.