Truist Financial Co. (NYSE:TFC) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its position in Truist Financial Co. (NYSE:TFC) by 77.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,670 shares of the insurance provider’s stock after acquiring an additional 34,238 shares during the quarter. Investment Management Corp of Ontario’s holdings in Truist Financial were worth $3,413,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the fourth quarter worth about $26,000. Navigoe LLC acquired a new stake in Truist Financial during the fourth quarter worth approximately $26,000. Curio Wealth LLC acquired a new stake in Truist Financial during the fourth quarter worth approximately $45,000. City State Bank raised its holdings in Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new stake in Truist Financial during the fourth quarter worth approximately $55,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on TFC. Wells Fargo & Company cut their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Raymond James cut Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Argus set a $43.00 price objective on Truist Financial in a research note on Monday, April 21st. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.06.

Truist Financial Trading Down 1.7%

NYSE:TFC opened at $38.88 on Monday. The stock has a fifty day moving average price of $38.86 and a two-hundred day moving average price of $43.30. The stock has a market capitalization of $50.91 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The firm 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 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the business posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.35%. The ex-dividend date is Friday, May 9th. 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.