Truist Financial Corporation (NYSE:TFC) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts rate Truist Financial “Hold” overall: Of 22 brokerages, 10 recommend holding, nine recommend buying, and three recommend selling. Their average 1-year price target is $54.73.
• Truist’s latest quarterly results slightly missed expectations, with EPS of $1.16 versus $1.17 expected and revenue of $5.30 billion versus $5.35 billion expected; revenue rose 1.3% year over year.
• The company declared a quarterly dividend of $0.52 per share, equivalent to an annualized $2.08 and a 4.2% yield. CEO Michael Lyons also bought 25,000 shares at an average price of $48.36.

Truist Financial Corporation (NYSE:TFC - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twenty-two brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $54.73.

A number of research analysts recently commented on the company. The Goldman Sachs Group reduced their price target on Truist Financial from $59.00 to $58.00 and set a "buy" rating for the company in a report on Monday, October 19th. HSBC started coverage on Truist Financial in a report on Monday, September 28th. They set a "buy" rating and a $61.00 price objective on the stock. Robert W. Baird upped their target price on Truist Financial from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Wells Fargo & Company set a $52.00 target price on Truist Financial in a research note on Thursday, October 8th. Finally, Wall Street Zen downgraded shares of Truist Financial from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st.

Truist Financial Stock Up 0.2%

TFC stock traded up $0.10 during trading on Friday, reaching $49.98. The stock had a trading volume of 4,829,760 shares, compared to its average volume of 7,890,205. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average price of $48.31 and a 200 day moving average price of $49.50. The company has a market capitalization of $59.91 billion, a P/E ratio of 12.88, a PEG ratio of 1.11 and a beta of 0.90. Truist Financial has a 1-year low of $43.13 and a 1-year high of $56.19.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). Truist Financial had a net margin of 18.01% and a return on equity of 10.37%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial will post 4.66 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial's dividend payout ratio is currently 53.61%.

Insider Buying and Selling

In related news, CEO Michael Lyons acquired 25,000 shares of the firm's stock in a transaction on Wednesday, October 28th. The stock was bought at an average cost of $48.36 per share, with a total value of $1,209,000.00. Following the acquisition, the chief executive officer directly owned 46,000 shares in the company, valued at approximately $2,224,560. The trade was a 119.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors have recently modified their holdings of the stock. N.E.W. Advisory Services LLC bought a new stake in Truist Financial in the second quarter valued at about $30,000. Navigoe LLC bought a new position in Truist Financial during the 2nd quarter worth approximately $30,000. Valued Wealth Advisors LLC lifted its holdings in Truist Financial by 107.6% during the 3rd quarter. Valued Wealth Advisors LLC now owns 679 shares of the insurance provider's stock worth $31,000 after buying an additional 352 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Truist Financial by 141.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 773 shares of the insurance provider's stock worth $36,000 after buying an additional 453 shares during the last quarter. Finally, Wilkerson Advisory Group LLC grew its position in shares of Truist Financial by 104.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider's stock worth $38,000 after acquiring an additional 421 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

About Truist Financial

Truist Financial Corporation NYSE: TFC is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.

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