Truist Financial Co. (NYSE:TFC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Truist Financial Co. (NYSE:TFC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-one brokerages that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $47.83.

A number of analysts recently weighed in on the company. Argus set a $43.00 price target on Truist Financial in a research note on Monday, April 21st. Raymond James downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. decreased their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Capital International Investors raised its position in shares of Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the period. Geode Capital Management LLC increased its position in Truist Financial by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after acquiring an additional 534,740 shares during the period. Amundi increased its position in Truist Financial by 4.6% in the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider's stock valued at $1,019,477,000 after acquiring an additional 1,091,311 shares during the period. Northern Trust Corp increased its position in Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after acquiring an additional 2,452,239 shares during the period. Finally, Invesco Ltd. increased its position in Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock valued at $540,723,000 after acquiring an additional 3,188,999 shares during the period. Institutional investors own 71.28% of the company's stock.

Truist Financial Trading Up 2.6%

NYSE:TFC opened at $40.66 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 12-month low of $33.56 and a 12-month high of $49.06. The firm has a market cap of $53.25 billion, a P/E ratio of 12.21, a PEG ratio of 1.63 and a beta of 0.84. The stock's 50 day simple moving average is $38.43 and its 200-day simple moving average is $42.67.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the business earned $0.90 earnings per share. Equities analysts anticipate that Truist Financial will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio is presently 61.36%.

Truist Financial Company Profile

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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