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 Truist Financial Corporation (NYSE:TFC) by 6.8% in the first quarter, HoldingsChannel reports. The firm owned 1,819,295 shares of the insurance provider’s stock after acquiring an additional 115,724 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Truist Financial were worth $83,633,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TFC. Pinnacle Financial Partners Inc. boosted its position in shares of Truist Financial by 30.0% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock worth $7,994,000 after acquiring an additional 40,393 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Truist Financial by 91.9% during the 4th quarter. Ritholtz Wealth Management now owns 45,749 shares of the insurance provider’s stock worth $2,251,000 after acquiring an additional 21,903 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Truist Financial by 531.8% during the 1st quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock worth $20,059,000 after acquiring an additional 367,291 shares in the last quarter. LBP AM SA purchased a new stake in Truist Financial during the fourth quarter worth approximately $10,836,000. Finally, Carnegie Investment Counsel lifted its stake in Truist Financial by 57.8% during the fourth quarter. Carnegie Investment Counsel now owns 105,792 shares of the insurance provider’s stock worth $5,206,000 after purchasing an additional 38,750 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 1.1%

Shares of NYSE:TFC opened at $51.75 on Friday. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The stock 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. The firm has a fifty day moving average price of $49.81 and a 200 day moving average price of $49.56.

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

Truist Financial Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stephens dropped their price target on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday. Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. UBS Group lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. reiterated 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. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus price target of $54.61.

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.