Sanders Capital LLC Buys 7,580 Shares of Truist Financial Corporation $TFC

Sanders Capital LLC lifted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,173,042 shares of the insurance provider’s stock after acquiring an additional 7,580 shares during the period. Sanders Capital LLC’s holdings in Truist Financial were worth $93,419,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the first quarter valued at approximately $25,000. Aspect Partners LLC boosted its holdings in shares of Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after buying an additional 268 shares during the period. Princeton Global Asset Management LLC acquired a new position in Truist Financial in the 2nd quarter valued at $30,000. Motco raised its holdings in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. lifted its position in Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

TFC opened at $44.82 on Friday. The stock’s 50 day simple moving average is $44.66 and its 200-day simple moving average is $43.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $57.33 billion, a PE ratio of 12.05, a P/E/G ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 earnings per share. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend 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 presently 55.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Weiss Ratings raised Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. UBS Group set a $55.00 price target on Truist Financial in a report on Tuesday, October 21st. Piper Sandler set a $48.00 price objective on shares of Truist Financial in a research note on Monday, October 20th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.