Truist Financial Corporation (NYSE:TFC) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 10.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 279,413 shares of the insurance provider's stock after buying an additional 25,405 shares during the quarter. IFM Investors Pty Ltd's holdings in Truist Financial were worth $11,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FWG Holdings LLC increased its position in shares of Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after buying an additional 234 shares in the last quarter. TIAA Trust National Association increased its position in shares of Truist Financial by 1.2% in the fourth quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after buying an additional 283 shares in the last quarter. TCTC Holdings LLC increased its position in shares of Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after buying an additional 287 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of Truist Financial by 1.0% in the fourth quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider's stock valued at $1,231,000 after buying an additional 288 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its position in shares of Truist Financial by 4.8% in the fourth quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider's stock valued at $274,000 after buying an additional 291 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Stephens cut their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. TD Cowen assumed coverage on Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target for the company. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.44.

Truist Financial Trading Down 0.8%

NYSE:TFC traded down $0.36 during trading hours on Monday, hitting $45.18. The company had a trading volume of 7,072,972 shares, compared to its average volume of 8,271,157. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $40.57 and a 200 day moving average of $41.95. The company has a market cap of $59.17 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.69 and a beta of 0.85. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period in the prior year, the business earned $0.90 EPS. Sell-side analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.