Truist Financial Corporation $TFC Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 22.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,170 shares of the insurance provider’s stock after purchasing an additional 20,366 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Truist Financial were worth $5,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TFC. Vanguard Group Inc. raised its holdings in shares of Truist Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock worth $5,892,453,000 after purchasing an additional 701,049 shares in the last quarter. Capital International Investors boosted its holdings in Truist Financial by 0.7% during the fourth quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after buying an additional 715,433 shares in the last quarter. Victory Capital Management Inc. grew its position in Truist Financial by 7.5% in the fourth quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after buying an additional 2,226,288 shares during the last quarter. Morgan Stanley grew its position in Truist Financial by 2.9% in the fourth quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock worth $1,030,028,000 after buying an additional 597,255 shares during the last quarter. Finally, Auto Owners Insurance Co increased its holdings in shares of Truist Financial by 4,821.0% in the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock valued at $697,428,000 after buying an additional 13,884,480 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $51.75 on Monday. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month 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 stock has a market cap of $64.48 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The business has a fifty day simple moving average of $49.81 and a 200-day simple moving average of $49.56.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4.59 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. Truist Financial’s payout ratio is presently 47.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $53.00 target price (down from $53.50) on shares of Truist Financial in a research report on Monday, July 20th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $54.00 price target (down from $62.00) on shares of Truist Financial in a research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.61.

Truist Financial 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.