Analysts Set Truist Financial Corporation (NYSE:TFC) Price Target at $48.44

Truist Financial Corporation (NYSE:TFC - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-one research firms that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $48.44.

Several research analysts recently commented on the company. Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. TD Cowen began coverage on shares of Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price on the stock. Barclays decreased their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Piper Sandler dropped their price objective on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Morgan Stanley reduced their price objective on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th.

Truist Financial Trading Up 1.8%

NYSE:TFC traded up $0.80 on Wednesday, reaching $45.00. 6,871,628 shares of the company's stock were exchanged, compared to its average volume of 8,254,360. The firm has a market capitalization of $58.93 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.60 and a beta of 0.85. Truist Financial has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $39.98 and a 200-day moving average of $41.93.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. 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 prior year, the firm earned $0.90 EPS. As a group, analysts expect that Truist Financial will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.62%. Truist Financial's dividend payout ratio (DPR) is 61.36%.

Institutional Trading of Truist Financial

Several hedge funds have recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Truist Financial in the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the fourth quarter valued at $26,000. Navigoe LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth $26,000. Centennial Bank AR grew its stake in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after purchasing an additional 580 shares during the period. Finally, Motco grew its stake in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider's stock worth $33,000 after purchasing an additional 649 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.

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.