Flagstar Financial: Truist Securities maintains Hold, PT raised to $13.5.

Flagstar Financial: Truist Securities maintains Hold, PT raised to $13.5.

Institutional investors have significantly increased their stakes in Truist Financial Corporation (NYSE:TFC) during the first quarter, according to recent filings with the Securities & Exchange Commission (SEC). Great Lakes Advisors LLC, Semmax Financial Advisors Inc., and several other major hedge funds have notably augmented their positions in the company.

Great Lakes Advisors LLC, for instance, increased its holdings by 3.7%, owning 347,187 shares valued at $14.2 million after purchasing an additional 12,374 shares Truist Financial Corporation $TFC Shares Purchased by Great Lakes Advisors LLC^[1]. Meanwhile, Semmax Financial Advisors Inc. boosted its stake by 7.9%, bringing its total holdings to 93,562 shares valued at approximately $3.65 million Semmax Financial Advisors Inc. Increases Stake in Truist Financial Corporation $TFC^[2]. Other notable investors, such as Victory Capital Management Inc., Invesco Ltd., and Nuveen LLC, also increased their positions, further underscoring the growing interest in Truist Financial.

Truist Financial recently reported earnings per share (EPS) of $0.91, which fell short of analysts' expectations of $0.93, despite revenue meeting estimates at $5.04 billion Truist Financial Corporation $TFC Shares Purchased by Great Lakes Advisors LLC^[1]. The company announced a quarterly dividend of $0.52 per share, resulting in an annualized yield of 4.5% with a payout ratio of 56.68% Truist Financial Corporation $TFC Shares Purchased by Great Lakes Advisors LLC^[1].

Despite the recent earnings report, Truist Securities has maintained a Hold rating on the stock, but has raised the price target to $13.50 Truist Financial Corporation $TFC Shares Purchased by Great Lakes Advisors LLC^[1]. The analysts at Truist Securities cited the company's strong dividend yield and the potential for improved financial performance in the future as reasons for the Hold rating and the upward revision in the price target.

Investors should closely monitor Truist Financial's earnings reports and any changes in analyst ratings as the company continues to navigate the evolving financial landscape. The increased interest from institutional investors suggests that Truist Financial may be well-positioned to weather the current market conditions and potentially deliver strong returns for shareholders.