Truist Financial Corporation $TFC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Truist Financial Corporation (NYSE:TFC) by 8.0% during the second quarter, HoldingsChannel reports. The fund owned 7,728,290 shares of the insurance provider’s stock after selling 672,198 shares during the period. Bank of New York Mellon Corp’s holdings in Truist Financial were worth $332,239,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Foster Victor Wealth Advisors LLC increased its stake in Truist Financial by 0.4% in the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock valued at $2,804,000 after purchasing an additional 242 shares during the last quarter. MGO One Seven LLC lifted its position in shares of Truist Financial by 0.9% during the 2nd quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after buying an additional 246 shares during the last quarter. Klingman & Associates LLC boosted its holdings in shares of Truist Financial by 2.2% in the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after buying an additional 248 shares in the last quarter. Haverford Trust Co grew its position in shares of Truist Financial by 3.5% in the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after buying an additional 262 shares during the last quarter. Finally, Keystone Financial Group Inc. raised its stake in Truist Financial by 1.3% during the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock worth $942,000 after acquiring an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $43.69 on Wednesday. The stock has a fifty day moving average price of $44.96 and a 200 day moving average price of $42.99. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $56.33 billion, a PE ratio of 11.74, a P/E/G ratio of 1.20 and a beta of 0.88.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the previous year, the company posted $0.97 EPS. 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. Sell-side analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

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 given a $0.52 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.8%. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler set a $48.00 price target on shares of Truist Financial in a research report on Monday, October 20th. Morgan Stanley boosted their target price on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Monday, October 20th. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Two equities 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. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus 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.