IFM Investors Pty Ltd Grows Stock Position in Truist Financial Corporation $TFC

IFM Investors Pty Ltd increased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,318 shares of the insurance provider’s stock after purchasing an additional 14,119 shares during the quarter. IFM Investors Pty Ltd’s holdings in Truist Financial were worth $13,024,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. 3Chopt Investment Partners LLC raised its holdings in Truist Financial by 1.3% in the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after acquiring an additional 193 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 194 shares during the last quarter. AlphaCore Capital LLC grew its stake in shares of Truist Financial by 8.3% during the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 199 shares in the last quarter. CYBER HORNET ETFs LLC grew its stake in shares of Truist Financial by 5.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 199 shares in the last quarter. Finally, Mindset Wealth Management LLC increased its holdings in Truist Financial by 0.6% in the fourth quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock valued at $1,706,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 2.1%

TFC opened at $50.85 on Thursday. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19. 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 stock has a market capitalization 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 business’s 50-day simple moving average is $49.17 and its 200-day simple moving average is $49.38.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. Analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on TFC. Royal Bank Of Canada raised their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a research report on Wednesday. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday, May 1st. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, 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.