Penserra Capital Management LLC Has $239,000 Stock Position in Truist Financial Corporation $TFC

Penserra Capital Management LLC reduced its holdings in Truist Financial Corporation (NYSE:TFC) by 53.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,585 shares of the insurance provider’s stock after selling 6,534 shares during the period. Penserra Capital Management LLC’s holdings in Truist Financial were worth $239,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Chancellor Financial Group WB LP increased its position in Truist Financial by 18.5% during the second quarter. Chancellor Financial Group WB LP now owns 9,946 shares of the insurance provider’s stock worth $428,000 after acquiring an additional 1,550 shares during the period. Aspect Partners LLC grew its position in Truist Financial by 71.5% in the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Princeton Capital Management LLC increased its holdings in shares of Truist Financial by 20.7% during the 2nd quarter. Princeton Capital Management LLC now owns 42,529 shares of the insurance provider’s stock worth $1,828,000 after purchasing an additional 7,282 shares during the period. Bryn Mawr Trust Advisors LLC increased its holdings in shares of Truist Financial by 3.5% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 252,437 shares of the insurance provider’s stock worth $10,852,000 after purchasing an additional 8,650 shares during the period. Finally, Mcrae Capital Management Inc. raised its position in shares of Truist Financial by 3.8% during the second quarter. Mcrae Capital Management Inc. now owns 302,079 shares of the insurance provider’s stock valued at $12,986,000 after buying an additional 11,105 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Evercore ISI boosted their price target on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Price Performance

Shares of TFC stock opened at $45.61 on Thursday. The stock’s fifty day simple moving average is $44.73 and its 200 day simple moving average is $43.28. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The firm has a market cap of $58.35 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.20 and a beta of 0.92. 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 (NYSE:TFC) last issued its quarterly earnings data 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period last year, the business earned $0.97 earnings per share. 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 expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. Truist Financial’s payout ratio is 55.91%.

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.