IFM Investors Pty Ltd Buys 25,405 Shares of Truist Financial Corporation (NYSE:TFC)

IFM Investors Pty Ltd increased its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 10.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,413 shares of the insurance provider's stock after purchasing an additional 25,405 shares during the quarter. IFM Investors Pty Ltd's holdings in Truist Financial were worth $11,950,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock worth $1,023,000 after purchasing an additional 14,093 shares during the period. Fisher Asset Management LLC increased its stake in Truist Financial by 5.5% in the 4th quarter. Fisher Asset Management LLC now owns 8,431 shares of the insurance provider's stock valued at $366,000 after buying an additional 436 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Truist Financial in the 4th quarter valued at $104,000. Victory Capital Management Inc. grew its position in shares of Truist Financial by 49.9% in the 4th quarter. Victory Capital Management Inc. now owns 651,503 shares of the insurance provider's stock valued at $28,262,000 after acquiring an additional 216,956 shares during the period. Finally, Assetmark Inc. grew its position in shares of Truist Financial by 97.1% in the 4th quarter. Assetmark Inc. now owns 91,833 shares of the insurance provider's stock valued at $3,984,000 after acquiring an additional 45,235 shares during the period. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the subject of several research analyst reports. Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. Raymond James Financial downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Barclays decreased their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler cut their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.44.

Truist Financial Stock Down 0.9%

Shares of TFC traded down $0.40 during trading hours on Monday, reaching $45.14. 3,856,599 shares of the stock traded hands, compared to its average volume of 8,259,114. 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 stock has a fifty day simple moving average of $40.44 and a 200 day simple moving average of $41.94. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a market cap of $59.11 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.69 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same quarter last year, the company posted $0.90 earnings per share. On average, equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.61%. Truist Financial's payout ratio is 61.36%.

Truist Financial Company 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.