Truist Financial Corporation $TFC Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,318 shares of the insurance provider’s stock after buying an additional 14,119 shares during the period. IFM Investors Pty Ltd’s holdings in Truist Financial were worth $13,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Premier Path Wealth Partners LLC lifted its holdings in Truist Financial by 17.2% during the first quarter. Premier Path Wealth Partners LLC now owns 16,652 shares of the insurance provider’s stock valued at $765,000 after purchasing an additional 2,449 shares in the last quarter. Simmons Bank grew its position in shares of Truist Financial by 2.4% in the first quarter. Simmons Bank now owns 61,348 shares of the insurance provider’s stock valued at $2,820,000 after purchasing an additional 1,424 shares during the period. Lansforsakringar Fondforvaltning AB publ increased its stake in shares of Truist Financial by 6.0% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 9,124 shares of the insurance provider’s stock worth $419,000 after purchasing an additional 515 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of Truist Financial by 3.3% during the first quarter. Apollon Wealth Management LLC now owns 59,621 shares of the insurance provider’s stock worth $2,741,000 after purchasing an additional 1,877 shares in the last quarter. Finally, Patton Fund Management Inc. raised its position in shares of Truist Financial by 9.0% during the 1st quarter. Patton Fund Management Inc. now owns 5,028 shares of the insurance provider’s stock worth $231,000 after purchasing an additional 416 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 2.1%

Shares of TFC opened at $50.85 on Thursday. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The firm has a market cap of $63.35 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 0.85 and a beta of 0.89. The company’s 50-day moving average price is $49.17 and its 200 day moving average price is $49.38. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. On average, sell-side analysts forecast that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial’s payout ratio is presently 51.61%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a report on Monday. Royal Bank Of Canada raised their target price on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Finally, Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $63.00 to $54.00 in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.26.

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.