Truist Financial Corporation (NYSE:TFC) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Truist Financial Corporation has received an average rating of "Moderate Buy" from twenty brokerage firms, with the average one-year price target set at $48.89.
• Insider Bradley D. Bender sold a substantial number of shares, resulting in a 96.17% decrease in ownership, which may indicate insider sentiment about the company’s stock performance.
• The company declared a quarterly dividend of $0.52 per share, representing an annualized dividend yield of 4.7%.

Truist Financial Corporation (NYSE:TFC - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty research firms that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $48.8889.

TFC has been the subject of several analyst reports. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their price target for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Morgan Stanley boosted their price target on shares of Truist Financial from $48.00 to $54.00 and gave the company an "equal weight" rating in a research note on Monday, September 29th. Raymond James Financial reissued an "outperform" rating on shares of Truist Financial in a research note on Tuesday. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Truist Financial in a research note on Wednesday.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider owned 500 shares of the company's stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Foster Victor Wealth Advisors LLC boosted its stake in shares of Truist Financial by 0.4% in the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider's stock valued at $2,804,000 after purchasing an additional 242 shares during the period. MGO One Seven LLC boosted its stake in shares of Truist Financial by 0.9% in the second quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider's stock valued at $1,240,000 after purchasing an additional 246 shares during the period. Klingman & Associates LLC increased its stake in shares of Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider's stock worth $484,000 after buying an additional 248 shares during the period. Haverford Trust Co increased its stake in shares of Truist Financial by 3.5% during the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider's stock worth $319,000 after buying an additional 262 shares during the period. Finally, Keystone Financial Group Inc. increased its stake in shares of Truist Financial by 1.3% during the second quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider's stock worth $942,000 after buying an additional 266 shares during the period. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

Truist Financial stock opened at $44.22 on Friday. The firm has a 50 day simple moving average of $45.17 and a 200-day simple moving average of $42.16. Truist Financial has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $57.02 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The firm had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $5.04 billion. During the same period last year, the company earned $0.91 EPS. The business's quarterly revenue was down 406.0% on a year-over-year basis. On average, analysts expect that Truist Financial will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's payout ratio is 56.68%.

About Truist Financial

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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