Truist Financial Corporation $TFC Shares Bought by Ibex Wealth Advisors

Ibex Wealth Advisors raised its stake in Truist Financial Corporation (NYSE:TFC) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 193,653 shares of the insurance provider’s stock after purchasing an additional 11,215 shares during the quarter. Ibex Wealth Advisors’ holdings in Truist Financial were worth $8,902,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new stake in Truist Financial during the fourth quarter valued at about $26,000. McMillan Office Inc. purchased a new stake in Truist Financial during the fourth quarter valued at about $31,000. Maseco LLP increased its stake in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $63.00 to $54.00 in a research note on Tuesday, June 30th. UBS Group lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $58.00 to $55.00 in a research report on Tuesday. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Friday, May 1st. Finally, Evercore restated an “outperform” rating and set a $57.00 target price on shares of Truist Financial in a report on Monday. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.47.

Truist Financial Price Performance

TFC opened at $51.29 on Friday. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The firm has a market cap of $63.90 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.87 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $49.16 and a 200 day simple moving average of $49.42.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts expect that Truist Financial Corporation will post 4.51 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

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.