Assetmark Inc. Purchases 37,282 Shares of Truist Financial Corporation $TFC

Key Points

• Assetmark Inc. increased its stake in Truist Financial by 12.1% in the first quarter, buying 37,282 additional shares and bringing its total holding to 344,668 shares worth about $15.8 million.
• Truist posted stronger-than-expected quarterly results, reporting $1.23 in EPS versus $1.08 expected and revenue of $5.31 billion versus $5.24 billion expected, with revenue up 5.6% year over year.
• Analyst sentiment is mixed but cautious, with the stock carrying an average “Hold” rating and a consensus price target of $54.47, while concerns remain around margin pressure and higher funding costs.

Assetmark Inc. grew its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 12.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 344,668 shares of the insurance provider's stock after buying an additional 37,282 shares during the period. Assetmark Inc.'s holdings in Truist Financial were worth $15,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TFC. Kemnay Advisory Services Inc. bought a new stake in shares of Truist Financial in the fourth quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in shares of Truist Financial during the fourth quarter valued at approximately $26,000. McMillan Office Inc. bought a new position in Truist Financial during the fourth quarter valued at approximately $31,000. Maseco LLP lifted its position in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider's stock worth $32,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

NYSE TFC opened at $52.50 on Monday. The business's fifty day moving average is $49.40 and its 200 day moving average is $49.50. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $65.41 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.92 and a beta of 0.89.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business had revenue of $5.31 billion during the quarter, compared to analysts' expectations of $5.24 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. The business's quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that Truist Financial Corporation will post 4.51 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial's dividend payout ratio is currently 47.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup lowered shares of Truist Financial from a "buy" rating to a "neutral" rating and decreased their target price for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. Stephens initiated coverage on Truist Financial in a research note on Monday, June 15th. They issued an "overweight" rating and a $59.00 price target on the stock. Evercore restated an "outperform" rating and issued a $57.00 price target on shares of Truist Financial in a research note on Monday, July 6th. Wall Street Zen cut Truist Financial from a "hold" rating to a "sell" rating in a research report on Monday, June 29th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $54.00 target price (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $54.47.

More Truist Financial News

Here are the key news stories impacting Truist Financial this week:

• Positive Sentiment: Truist beat Q2 expectations with earnings of $1.23 per share versus $1.08 expected, and revenue of $5.31 billion versus $5.24 billion expected, helped by stronger net interest income, fee income, loan growth, and lower credit provisions. Truist reports second quarter 2026 results
• Positive Sentiment: Capital markets improved, with investment banking and trading benefiting from a rebound in activity and market volatility, which helped lift quarterly profit. Truist's quarterly profit rises on strength in investment banking and trading
• Positive Sentiment: Consumer activity remained healthy, with spending holding up, mobile engagement increasing, and credit losses easing, suggesting underlying banking demand is still resilient. Truist Bets on Digital Engagement to Deepen Banking Ties
• Neutral Sentiment: Truist also provided updated 2026 and third-quarter guidance, but the market appears to be waiting for clearer details on earnings power and the full impact of the outlook revisions. Truist reports second quarter 2026 results
• Negative Sentiment: Shares are being pressured by concerns over net interest margin compression and rising funding costs as customers move cash into higher-yielding accounts. TFC Q2 Earnings Beat on Lower Provisions, Stock Dips on NIM Concern
• Negative Sentiment: Investors are also watching the CEO transition to Michael Lyons, which adds strategic uncertainty even after the earnings beat. Truist Financial Earnings May Offer Clues About the Bank's Next Chapter

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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