Y Intercept Hong Kong Ltd Purchases 264,795 Shares of Truist Financial Corporation $TFC

Y Intercept Hong Kong Ltd increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 358.3% during the 4th quarter, Holdings Channel reports. The firm owned 338,705 shares of the insurance provider’s stock after acquiring an additional 264,795 shares during the period. Truist Financial comprises 0.4% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 24th biggest position. Y Intercept Hong Kong Ltd’s holdings in Truist Financial were worth $16,668,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TFC. Swiss RE Ltd. purchased a new position in Truist Financial during the fourth quarter valued at $26,000. McMillan Office Inc. purchased a new position in Truist Financial during the fourth quarter valued at $31,000. Ancora Advisors LLC grew its stake in Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 500 shares in the last quarter. Maseco LLP grew its stake in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TFC. Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Morgan Stanley cut their target price on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada raised their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $51.63 on Friday. Truist Financial Corporation has a 52 week low of $38.83 and a 52 week high of $56.19. The stock has a market capitalization of $64.33 billion, a P/E ratio of 12.81, a PEG ratio of 0.87 and a beta of 0.89. The firm has a fifty day simple moving average of $49.10 and a two-hundred day simple moving average of $49.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same period last year, the company posted $0.87 EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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