Lombard Odier Asset Management Switzerland SA Has $1.30 Million Stock Position in Truist Financial Corporation $TFC

Lombard Odier Asset Management Switzerland SA raised its position in Truist Financial Corporation (NYSE:TFC) by 120.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 28,206 shares of the insurance provider’s stock after acquiring an additional 15,400 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Truist Financial were worth $1,297,000 as of its most recent filing with the SEC.

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

Truist Financial Stock Performance

Truist Financial stock opened at $52.09 on Tuesday. The firm has a 50-day moving average of $49.91 and a 200-day moving average of $49.56. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The firm has a market cap of $64.90 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.94 and a beta of 0.89. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $53.00 price objective (down from $53.50) on shares of Truist Financial in a research note on Monday, July 20th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Finally, Bank of America restated a “neutral” rating and issued a $56.00 target price (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and a consensus target price 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.