IFM Investors Pty Ltd Has $11.95 Million Position in Truist Financial Co. (NYSE:TFC)

IFM Investors Pty Ltd lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,413 shares of the insurance provider’s stock after buying an additional 432 shares during the period. 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 also recently modified their holdings of the company. Capital Investment Counsel Inc lifted its holdings in shares of Truist Financial by 0.4% in the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after acquiring an additional 244 shares during the last quarter. Burkett Financial Services LLC boosted its position in Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after buying an additional 253 shares in the last quarter. Verum Partners LLC grew its stake in shares of Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after buying an additional 261 shares during the last quarter. CX Institutional increased its holdings in shares of Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after buying an additional 263 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Truist Financial by 1.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after acquiring an additional 274 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TFC shares. JPMorgan Chase & Co. boosted their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Bank of America upped their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Compass Point lifted their price target on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Performance

NYSE:TFC opened at $43.42 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a twelve month low of $27.01 and a twelve month high of $45.31. The company has a fifty day moving average of $42.76 and a 200-day moving average of $40.41. The firm has a market capitalization of $58.15 billion, a P/E ratio of -30.36, a P/E/G ratio of 1.84 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.58 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.79%. Truist Financial’s payout ratio is currently -145.45%.

About Truist Financial

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.