Evercore ISI reissued their in-line rating on shares of Truist Financial (NYSE:TFC - Free Report) in a research report released on Thursday morning, MarketBeat.com reports. The brokerage currently has a $44.00 target price on the insurance provider's stock.
Other analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their price objective on Truist Financial from $39.00 to $45.00 and gave the company an overweight rating in a report on Thursday, March 28th. TheStreet cut Truist Financial from a b- rating to a c rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. raised their price target on shares of Truist Financial from $39.50 to $40.50 and gave the stock a neutral rating in a report on Wednesday, May 1st. Stephens reaffirmed an overweight rating and issued a $43.00 price objective on shares of Truist Financial in a research note on Tuesday, April 23rd. Finally, UBS Group upped their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a buy rating in a research report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $42.70.
Check Out Our Latest Analysis on TFC
Truist Financial Stock Performance
Truist Financial stock traded down $0.29 during midday trading on Thursday, hitting $39.10. The company's stock had a trading volume of 6,562,581 shares, compared to its average volume of 9,391,715. The company has a 50-day moving average price of $37.43 and a two-hundred day moving average price of $35.42. Truist Financial has a 1-year low of $26.49 and a 1-year high of $40.35. The company has a market cap of $52.18 billion, a price-to-earnings ratio of -29.62, a PEG 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.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $5.70 billion. During the same quarter last year, the company posted $1.09 EPS. The company'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 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently disclosed 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. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.32%. Truist Financial's dividend payout ratio (DPR) is -157.58%.
Insider Activity at Truist Financial
In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The shares were 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 filing with the SEC, which is available through this link. 0.17% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Truist Financial
A number of large investors have recently modified their holdings of TFC. Norges Bank purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $307,787,000. Parnassus Investments LLC purchased a new position in shares of Truist Financial in the 4th quarter worth about $95,049,000. North Reef Capital Management LP purchased a new stake in Truist Financial during the 3rd quarter valued at about $66,804,000. Azora Capital LP bought a new stake in Truist Financial during the 4th quarter valued at about $72,498,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Truist Financial by 342.2% in the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider's stock worth $72,296,000 after buying an additional 1,955,448 shares in the last quarter. 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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