Truist Financial Corporation (NYSE:TFC) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Truist Financial, with eight holds, seven buys, and two sells. The average 12-month price target is $55.12, compared with the stock’s reported opening price of $47.12.
• Truist exceeded quarterly expectations, reporting $1.23 in EPS versus the $1.08 consensus estimate and $5.31 billion in revenue, up 5.6% year over year. The company also maintains a quarterly dividend of $0.52, representing a 4.4% annualized yield.
• Insiders sold 30,516 shares worth approximately $1.58 million over the past three months, while institutional investors own 71.28% of the company’s stock.

Shares of Truist Financial Corporation (NYSE:TFC - Get Free Report) have been assigned an average recommendation of "Hold" from the seventeen analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $55.12.

A number of research firms have recently issued reports on TFC. Citigroup downgraded shares of Truist Financial from a "buy" rating to a "neutral" rating and reduced their price target for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. Bank of America reiterated a "neutral" rating and issued a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Stephens cut their target price on Truist Financial from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Truist Financial in a research note on Wednesday, July 29th.

Insider Buying and Selling at Truist Financial

In other news, CEO William Rogers, Jr. sold 13,250 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Donta L. Wilson sold 13,280 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the sale, the insider owned 56,009 shares in the company, valued at approximately $2,904,066.65. This trade represents a 19.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,516 shares of company stock worth $1,584,428. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Truist Financial

Several 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 Truist Financial during the second quarter worth approximately $30,000. Navigoe LLC acquired a new position in shares of Truist Financial in the 2nd quarter valued at $30,000. Evolution Wealth Management Inc. grew its position in shares of Truist Financial by 2,218.2% in the 1st quarter. Evolution Wealth Management Inc. now owns 765 shares of the insurance provider's stock valued at $35,000 after buying an additional 732 shares during the last quarter. 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 valued at $38,000 after buying an additional 421 shares during the last quarter. Finally, SHP Wealth Management acquired a new stake in Truist Financial during the 4th quarter worth $41,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Stock Up 0.2%

Shares of NYSE TFC opened at $47.12 on Friday. The company has a market capitalization of $57.56 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.00 and a beta of 0.88. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day simple moving average of $50.98 and a 200-day simple moving average of $49.47. Truist Financial has a 1 year low of $40.78 and a 1 year high of $56.19.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm had revenue of $5.31 billion for the quarter, compared to analysts' expectations of $5.24 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The firm's quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that Truist Financial will post 4.61 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a $0.52 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. Truist Financial's payout ratio is 47.71%.

About Truist Financial

Truist Financial Corporation NYSE: TFC is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.

Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.

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