Truist Financial Corporation (NYSE:TFC) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts rate Truist Financial “Hold” overall: Of 17 analysts, eight recommend holding, seven recommend buying and two recommend selling. The average 12-month price target is $55.12, modestly above the reported $50.46 share price.
• Recent results exceeded expectations: Truist reported quarterly EPS of $1.23 versus the $1.08 consensus estimate, while revenue reached $5.31 billion and rose 5.6% year over year. Analysts expect full-year EPS of approximately $4.58.
• The company maintains an attractive dividend: Truist declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 4.1% yield, with a 47.71% payout ratio.

Shares of Truist Financial Corporation (NYSE:TFC - Get Free Report) have earned a consensus rating of "Hold" from the seventeen ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $55.1176.

TFC has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Truist Financial from $53.00 to $54.00 and gave the company an "underweight" rating in a research note on Wednesday, July 29th. Citigroup lowered Truist Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $63.00 to $54.00 in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Truist Financial in a report on Wednesday, July 29th. Raymond James Financial reiterated a "market perform" rating on shares of Truist Financial in a research report on Wednesday, July 1st. Finally, Evercore restated an "outperform" rating and set a $57.00 price target on shares of Truist Financial in a report on Monday, July 6th.

Truist Financial Price Performance

TFC stock opened at $50.46 on Monday. The company has a 50 day simple moving average of $51.47 and a 200 day simple moving average of $49.64. The stock has a market cap of $61.64 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.06 and a beta of 0.89. Truist Financial 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.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion during 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 was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. Research analysts anticipate that Truist Financial will post 4.58 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial's dividend payout ratio (DPR) is currently 47.71%.

Insiders Place Their Bets

In other Truist Financial news, insider Donta L. Wilson sold 13,280 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the sale, the insider directly owned 56,009 shares of the company's stock, valued at $2,904,066.65. The trade was a 19.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 3,986 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the completion of the transaction, the director owned 10,270 shares of the company's stock, valued at approximately $520,689. This trade represents a 27.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,516 shares of company stock valued at $1,584,428 in the last ninety days. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently bought and sold shares of TFC. 3Chopt Investment Partners LLC grew its position in shares of Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider's stock worth $724,000 after purchasing an additional 193 shares in the last quarter. IFP Advisors Inc lifted its holdings in Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider's stock worth $404,000 after purchasing an additional 194 shares in the last quarter. PCB Capital LLC boosted its stake in Truist Financial by 3.0% in the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider's stock worth $310,000 after purchasing an additional 198 shares during the period. AlphaCore Capital LLC boosted its stake in Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider's stock worth $128,000 after purchasing an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC grew its holdings in Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider's stock valued at $188,000 after buying an additional 199 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

About Truist Financial

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.

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