Equity Investment Corp Grows Position in Truist Financial Corporation $TFC

Equity Investment Corp raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,257,547 shares of the insurance provider’s stock after buying an additional 77,159 shares during the quarter. Truist Financial comprises 2.0% of Equity Investment Corp’s portfolio, making the stock its 24th biggest holding. Equity Investment Corp owned approximately 0.18% of Truist Financial worth $97,052,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC purchased a new position in shares of Truist Financial in the first quarter valued at $25,000. Centennial Bank AR grew its stake 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 buying an additional 580 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Truist Financial in the 2nd quarter worth $30,000. Motco grew its stake 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 buying an additional 649 shares in the last quarter. Finally, Ramirez Asset Management Inc. grew its stake 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 buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC opened at $43.69 on Wednesday. The business has a fifty day moving average of $44.96 and a 200 day moving average of $42.99. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. 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 stock has a market cap of $56.33 billion, a P/E ratio of 11.74, a PEG ratio of 1.20 and a beta of 0.88.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates 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 was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

TFC has been the subject of several recent research reports. Morgan Stanley lifted their price target 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 reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. UBS Group set a $55.00 target price on Truist Financial in a report on Tuesday, October 21st. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Finally, Evercore ISI lifted their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

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.