Truist Financial Corporation (NYSE:TFC) Stock Has Consensus Price Target of $54.24 According to Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Truist Financial, with nine hold, seven buy and two sell ratings among 18 analysts. The average 12-month price target is $54.24 versus the stock’s reported price of $46.32.
• Truist reported quarterly EPS of $1.16, slightly below the $1.17 consensus estimate, while revenue of $5.30 billion also missed expectations. Revenue nevertheless increased 1.3% year over year.
• CEO Michael Lyons bought 21,000 shares worth about $1.02 million, while a director sold 3,986 shares. Institutional investors own approximately 71.28% of Truist’s outstanding stock, and the company’s quarterly dividend implies a 4.5% annual yield.

Shares of Truist Financial Corporation (NYSE:TFC - Get Free Report) have been assigned a consensus rating of "Hold" from the eighteen analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $54.24.

A number of analysts have commented on the company. HSBC assumed coverage on Truist Financial in a research report on Monday, September 28th. They set a "buy" rating and a $61.00 price target for the company. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Evercore reissued an "outperform" rating and issued a $57.00 price objective on shares of Truist Financial in a report on Monday, July 6th. Citigroup cut 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 note on Tuesday, June 30th. Finally, UBS Group decreased their target price on Truist Financial from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, October 5th.

Insider Buying and Selling

In other Truist Financial news, CEO Michael Lyons purchased 21,000 shares of Truist Financial stock in a transaction on Thursday, September 17th. The stock was bought at an average cost of $48.36 per share, with a total value of $1,015,560.00. Following the transaction, the chief executive officer owned 21,000 shares of the company's stock, valued at $1,015,560. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director K. Boyer, Jr. sold 3,986 shares of the firm's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total transaction of $202,090.20. Following the transaction, the director directly owned 10,270 shares of the company's stock, valued at $520,689. This represents a 27.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Truist Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. N.E.W. Advisory Services LLC acquired a new stake in shares of Truist Financial in the second quarter worth about $30,000. Navigoe LLC acquired a new position in shares of Truist Financial during the 2nd quarter valued at about $30,000. Evolution Wealth Management Inc. increased its holdings in shares of Truist Financial by 2,218.2% during the 1st quarter. Evolution Wealth Management Inc. now owns 765 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 732 shares during the last quarter. Wilkerson Advisory Group LLC increased its holdings in shares of Truist Financial by 104.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 421 shares during the last quarter. Finally, SHP Wealth Management acquired a new position in shares of Truist Financial during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Trading Down 1.6%

NYSE:TFC opened at $46.32 on Tuesday. The company has a market capitalization of $56.59 billion, a P/E ratio of 11.94, a PEG ratio of 1.04 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. Truist Financial has a 12 month low of $42.70 and a 12 month high of $56.19. The firm has a fifty day simple moving average of $49.06 and a 200-day simple moving average of $49.65.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.01). The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.35 billion. Truist Financial had a net margin of 18.01% and a return on equity of 10.37%. Truist Financial's revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 earnings per share. On average, equities research analysts anticipate that Truist Financial will post 4.67 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, August 14th. Truist Financial's dividend payout ratio is 53.61%.

About Truist Financial

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.

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