Resona Asset Management Co. Ltd. Increases Holdings in Truist Financial Corporation $TFC

Resona Asset Management Co. Ltd. increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 2.6% in the second quarter, HoldingsChannel reports. The firm owned 484,914 shares of the insurance provider’s stock after acquiring an additional 12,133 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Truist Financial were worth $20,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of TFC. Amundi lifted its stake in Truist Financial by 4.6% during the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after acquiring an additional 1,091,311 shares during the period. Invesco Ltd. increased its stake in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after acquiring an additional 3,188,999 shares during the period. American Century Companies Inc. raised its holdings in shares of Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after purchasing an additional 2,158,639 shares during the last quarter. Federated Hermes Inc. lifted its position in Truist Financial by 0.9% during the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock valued at $391,404,000 after purchasing an additional 89,373 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Truist Financial by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock valued at $330,408,000 after purchasing an additional 408,726 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.1%

Truist Financial stock opened at $44.01 on Friday. 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 stock has a market capitalization of $56.30 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The business has a 50 day simple moving average of $44.84 and a 200-day simple moving average of $43.00. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last announced 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. 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 for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s 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 anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

TFC has been the topic of several analyst reports. Evercore ISI increased their price target on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Piper Sandler set a $48.00 price target on Truist Financial in a research report on Monday, October 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Finally, TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, October 21st. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.