Truist Financial (NYSE:TFC) Shares Cross Below 200-Day Moving Average - Should You Sell?

Key Points

• Truist shares slipped below their 200-day moving average, touching $49.24 versus the $49.50 average, and last traded at $49.379.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $53.82, compared with seven Buy, ten Hold, and two Sell ratings.
• Truist narrowly missed quarterly EPS and revenue estimates, but revenue rose 1.3% year over year. It declared a $0.52 quarterly dividend, a 4.2% annualized yield, and its CEO recently bought 25,000 shares.

Truist Financial Corporation (NYSE:TFC - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $49.50 and traded as low as $49.24. Truist Financial shares last traded at $49.3790, with a volume of 6,452,012 shares.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent research reports. Wolfe Research initiated coverage on Truist Financial in a research note on Tuesday, October 27th. They set a "peer perform" rating for the company. HSBC initiated coverage on Truist Financial in a research note on Monday, September 28th. They issued a "buy" rating and a $61.00 target price on the stock. Citigroup reduced their price target on Truist Financial from $54.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, October 21st. Robert W. Baird lifted their price target on Truist Financial from $55.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Finally, Evercore reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Truist Financial in a research report on Tuesday, October 27th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $53.82.

Truist Financial Stock Performance

The firm has a market capitalization of $59.18 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The business's 50 day simple moving average is $48.36 and its two-hundred day simple moving average is $49.50.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.01). The firm had revenue of $5.30 billion during the quarter, compared to analysts' expectations of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $1.04 earnings per share. Research analysts expect that Truist Financial Corporation will post 4.71 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, November 13th. Truist Financial's dividend payout ratio is presently 53.61%.

Insider Buying and Selling

In other Truist Financial news, CEO Michael Lyons acquired 25,000 shares of the stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost of $48.36 per share, for a total transaction of $1,209,000.00. Following the completion of the transaction, the chief executive officer directly owned 46,000 shares of the company's stock, valued at approximately $2,224,560. The trade was a 119.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Truist Financial

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Truist Financial in the second quarter worth $4,959,834,000. Bank of New York Mellon Corp acquired a new position in shares of Truist Financial during the second quarter valued at $338,855,000. Deutsche Bank AG acquired a new position in shares of Truist Financial during the second quarter valued at $257,208,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Truist Financial during the second quarter valued at $151,526,000. Finally, SEB Asset Management AB bought a new position in shares of Truist Financial during the first quarter worth about $124,144,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Company Profile

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.