Vinva Investment Management Ltd Purchases 53,107 Shares of Truist Financial Corporation $TFC

by · The Markets Daily

Vinva Investment Management Ltd grew its position in Truist Financial Corporation (NYSE:TFC – Free Report) by 32.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,252 shares of the insurance provider’s stock after acquiring an additional 53,107 shares during the period. Vinva Investment Management Ltd’s holdings in Truist Financial were worth $9,342,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TFC. Brighton Jones LLC raised its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after buying an additional 14,093 shares during the period. Prosperity Consulting Group LLC lifted its holdings in Truist Financial by 2.4% during the 1st quarter. Prosperity Consulting Group LLC now owns 13,338 shares of the insurance provider’s stock valued at $549,000 after purchasing an additional 315 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Truist Financial by 26.8% during the 1st quarter. Mackenzie Financial Corp now owns 152,848 shares of the insurance provider’s stock valued at $6,290,000 after purchasing an additional 32,313 shares during the last quarter. Norden Group LLC boosted its position in Truist Financial by 36.3% during the first quarter. Norden Group LLC now owns 6,648 shares of the insurance provider’s stock worth $274,000 after purchasing an additional 1,772 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Down 0.1%

Shares of NYSE:TFC opened at $46.27 on Thursday. The company has a market capitalization of $59.19 billion, a P/E ratio of 12.44, 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. The business’s 50 day simple moving average is $44.65 and its 200 day simple moving average is $43.71. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $48.53.

Truist Financial (NYSE:TFC – Get Free Report) last released its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 annualized dividend and a dividend yield of 4.5%. Truist Financial’s payout ratio is presently 55.91%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 21st. 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. Keefe, Bruyette & Woods increased their target price 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. Finally, Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.00.

View Our Latest Analysis on Truist Financial

About Truist Financial

(Free Report)

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.

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