Truist Financial Co. (NYSE:TFC - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seventeen ratings firms that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $41.88.
TFC has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Piper Sandler raised their target price on Truist Financial from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, January 19th. HSBC upped their price target on shares of Truist Financial from $37.00 to $39.00 and gave the stock a "hold" rating in a research report on Thursday, March 28th. UBS Group lifted their target price on Truist Financial from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada lifted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Friday, January 19th.
View Our Latest Analysis on TFC
Insider Buying and Selling
In related news, Director K. David Jr. Boyer sold 3,764 shares of the company's 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 transaction, the director now owns 16,132 shares of the company's stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of TFC. OFI Invest Asset Management purchased a new position in shares of Truist Financial in the third quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial during the first quarter worth about $29,000. Operose Advisors LLC purchased a new stake in Truist Financial during the 3rd quarter valued at about $31,000. Missouri Trust & Investment Co lifted its stake in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider's stock worth $32,000 after purchasing an additional 593 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in shares of Truist Financial in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 71.28% of the company's stock.
Truist Financial Price Performance
Shares of TFC traded up $0.50 during midday trading on Friday, hitting $38.85. 7,207,531 shares of the company traded hands, compared to its average volume of 9,487,574. The firm has a market cap of $51.85 billion, a P/E ratio of -29.43, a PEG ratio of 1.99 and a beta of 1.07. Truist Financial has a one year low of $25.56 and a one year high of $39.29. The stock has a 50-day moving average of $37.08 and a 200-day moving average of $35.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.
Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $5.70 billion. During the same period last year, the firm posted $1.09 EPS. Truist Financial's revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that Truist Financial will post 3.3 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial's dividend payout ratio (DPR) is -157.58%.
About Truist Financial
(
Get Free ReportTruist 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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