Jennison Associates LLC Buys 674,840 Shares of Truist Financial Corporation $TFC

Key Points

• Jennison Associates LLC increased its Truist Financial stake by 20.1% in the first quarter, buying 674,840 additional shares. It now owns 4,024,305 shares worth about $185 million.
• Truist Financial recently reported better-than-expected quarterly results, with EPS of $1.23 versus $1.08 expected and revenue of $5.31 billion versus $5.24 billion expected. Earnings were supported by stronger net interest income, fee income, loan growth, and lower credit provisions.
• The company continues to pay a quarterly dividend of $0.52 per share, equal to an annualized yield of about 4.0%. Analysts currently have a consensus Hold rating on the stock, with an average price target of $54.47.

Jennison Associates LLC raised its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,024,305 shares of the insurance provider's stock after acquiring an additional 674,840 shares during the period. Jennison Associates LLC owned about 0.32% of Truist Financial worth $184,997,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TFC. Kemnay Advisory Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of Truist Financial during the fourth quarter valued at about $26,000. McMillan Office Inc. bought a new position in shares of Truist Financial during the fourth quarter valued at about $31,000. Maseco LLP boosted its holdings in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider's stock worth $32,000 after purchasing an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Truist Financial by 190.7% during 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. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Price Performance

TFC opened at $52.50 on Friday. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The firm has a 50-day moving average of $49.40 and a 200 day moving average of $49.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $65.41 billion, a P/E ratio of 12.04, a PEG ratio of 0.92 and a beta of 0.89.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company's revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. On average, research analysts expect that Truist Financial Corporation will post 4.51 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial's dividend payout ratio (DPR) is presently 47.71%.

Trending Headlines about Truist Financial

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird lowered shares of Truist Financial from an "outperform" rating to a "neutral" rating and set a $55.00 price objective for the company. in a research note on Friday, May 1st. Wall Street Zen downgraded Truist Financial from a "hold" rating to a "sell" rating in a research note on Monday, June 29th. Bank of America reaffirmed a "neutral" rating and issued a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. UBS Group downgraded Truist Financial from a "buy" rating to a "neutral" rating and decreased their price target for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group reiterated a "mixed" rating and set a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of "Hold" and an average price target of $54.47.

About Truist Financial

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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