Truist Financial Co. (NYSE:TFC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $39.38 and last traded at $39.22, with a volume of 593168 shares trading hands. The stock had previously closed at $38.85.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their target price on Truist Financial from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, January 19th. Royal Bank of Canada raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Friday, January 19th. Compass Point upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and upped their price target for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Jefferies Financial Group increased their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a "hold" rating in a research report on Monday, April 8th. Finally, Stephens reaffirmed an "overweight" rating and set a $43.00 price objective on shares of Truist Financial in a research note on Tuesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Truist Financial presently has an average rating of "Moderate Buy" and a consensus price target of $41.88.
Get Our Latest Analysis on Truist Financial
Truist Financial Price Performance
The firm has a market cap of $52.62 billion, a P/E ratio of -29.87, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The firm's 50 day moving average is $37.25 and its 200 day moving average is $35.30.
Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The firm's quarterly revenue was down 8.8% compared to the same quarter last year. As a group, analysts anticipate that Truist Financial Co. will post 3.3 earnings per share for the current year.
Truist Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Thursday, May 9th. Truist Financial's payout ratio is -157.58%.
Insider Activity at Truist Financial
In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by insiders.
Hedge Funds Weigh In On Truist Financial
A number of institutional investors and hedge funds have recently made changes to their positions in the business. OFI Invest Asset Management purchased a new position in Truist Financial during the third quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter valued at approximately $29,000. Operose Advisors LLC purchased a new stake in Truist Financial in the 3rd quarter worth approximately $31,000. Missouri Trust & Investment Co raised its stake in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider's stock worth $32,000 after acquiring an additional 593 shares during the period. Finally, Rise Advisors LLC purchased a new position in Truist Financial during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 71.28% of the company's stock.
About Truist Financial
(
Get Free Report)
Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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