Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $13.81 Million Stake in Truist Financial Corporation $TFC

by · The Cerbat Gem

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 6.7% during the 2nd quarter, Holdings Channel reports. The firm owned 321,172 shares of the insurance provider’s stock after purchasing an additional 20,234 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Truist Financial were worth $13,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in 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 purchasing an additional 14,093 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Truist Financial by 17.5% during the 1st quarter. Larson Financial Group LLC now owns 2,164 shares of the insurance provider’s stock worth $89,000 after acquiring an additional 323 shares during the period. Kestra Private Wealth Services LLC boosted its position in shares of Truist Financial by 5.6% during the 1st quarter. Kestra Private Wealth Services LLC now owns 85,877 shares of the insurance provider’s stock worth $3,534,000 after acquiring an additional 4,553 shares in the last quarter. Calton & Associates Inc. lifted its stake in Truist Financial by 11.1% during the first quarter. Calton & Associates Inc. now owns 6,411 shares of the insurance provider’s stock worth $264,000 after purchasing an additional 640 shares during the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of Truist Financial in the 1st quarter valued at $862,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $44.82 on Monday. The stock has a market capitalization of $57.33 billion, a PE ratio of 12.05, a PEG ratio of 1.20 and a beta of 0.92. The business’s 50 day simple moving average is $44.66 and its 200 day simple moving average is $43.40. 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 Corporation has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 16.84% and a return on equity of 8.73%. The company’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. As a group, research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio is presently 55.91%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TFC. Morgan Stanley lifted their target price on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Evercore ISI increased their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Weiss Ratings raised shares of Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their price target on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $50.59.

Read Our Latest Stock Report on Truist Financial

Truist Financial Profile

(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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