Truist Financial Corporation $TFC Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,819,295 shares of the insurance provider’s stock after acquiring an additional 115,724 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.15% of Truist Financial worth $83,633,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TFC shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $53.00 price objective (down from $53.50) on shares of Truist Financial in a report on Monday, July 20th. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a research report on Friday, April 17th. Finally, Evercore restated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus price target of $54.61.

Truist Financial Trading Up 1.1%

TFC opened at $51.75 on Friday. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $49.81 and a 200-day simple moving average of $49.56. The firm has a market cap of $64.48 billion, a P/E ratio of 11.87, a P/E/G ratio of 0.94 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities analysts expect that Truist Financial Corporation will post 4.59 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio (DPR) is presently 47.71%.

About Truist Financial

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.