Truist Financial Co. (NYSE:TFC) has been assigned an average rating of "Hold" from the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $60.00.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $58.00 price target for the company in a research report on Thursday, July 1st. Odeon Capital Group cut shares of Truist Financial from a "buy" rating to a "hold" rating in a research report on Monday, July 19th.
In other news, EVP Brantley J. Standridge sold 4,500 shares of the business's stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $55.11, for a total transaction of $247,995.00. Following the transaction, the executive vice president now directly owns 11,547 shares in the company, valued at $636,355.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company's stock.
A number of institutional investors and hedge funds have recently modified their holdings of TFC. Truvestments Capital LLC grew its position in Truist Financial by 142.3% during the first quarter. Truvestments Capital LLC now owns 487 shares of the insurance provider's stock worth $29,000 after buying an additional 286 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the second quarter valued at about $29,000. Ancora Advisors LLC lifted its holdings in shares of Truist Financial by 140.5% in the second quarter. Ancora Advisors LLC now owns 546 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 319 shares in the last quarter. Parisi Gray Wealth Management purchased a new stake in shares of Truist Financial in the second quarter valued at about $34,000. Finally, Eukles Asset Management purchased a new stake in shares of Truist Financial in the second quarter valued at about $46,000. Institutional investors own 70.76% of the company's stock.
Truist Financial stock opened at $58.00 on Friday. The stock has a market cap of $78.00 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. The company has a fifty day simple moving average of $55.84 and a 200-day simple moving average of $57.38. Truist Financial has a 12-month low of $34.86 and a 12-month high of $62.69. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62.
Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Wednesday, July 14th. The insurance provider reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.38. Truist Financial had a net margin of 23.46% and a return on equity of 11.13%. The firm had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.48 billion. During the same period in the previous year, the company earned $0.82 earnings per share. Truist Financial's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Truist Financial will post 5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from Truist Financial's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 12th. Truist Financial's payout ratio is 50.53%.
Truist Financial Company Profile
Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing and equipment financing.
Further Reading: What is the Stochastic Momentum Index (SMI)?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Truist Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Truist Financial wasn't on the list.
While Truist Financial currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here