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

Key Points

• Truist Financial Corporation (NYSE:TFC) has received a consensus rating of "Moderate Buy", with ten analysts assigning buy ratings and only two giving a strong buy rating.
• The average 12-month price target for Truist Financial's stock is $48.65, although price targets from various firms range from $41.00 to $55.00.
• The company recently declared a quarterly dividend of $0.52, resulting in an annualized dividend yield of 4.56% and a payout ratio of 56.68%.

Truist Financial Corporation (NYSE:TFC - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $48.65.

TFC has been the subject of several research reports. Barclays reduced 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 report on Monday, April 21st. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target for the company. Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target for the company in a research note on Tuesday, July 8th. Finally, Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st.

Insider Buying and Selling

In other news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider directly owned 500 shares of the company's stock, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Truist Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mutual Advisors LLC boosted its holdings in Truist Financial by 4.9% during the second quarter. Mutual Advisors LLC now owns 45,456 shares of the insurance provider's stock worth $2,075,000 after buying an additional 2,137 shares in the last quarter. Generali Asset Management SPA SGR increased its holdings in Truist Financial by 182.1% in the 2nd quarter. Generali Asset Management SPA SGR now owns 106,556 shares of the insurance provider's stock worth $4,581,000 after acquiring an additional 68,782 shares in the last quarter. Disciplined Equity Management Inc. boosted its holdings in Truist Financial by 17.4% in the 2nd quarter. Disciplined Equity Management Inc. now owns 55,180 shares of the insurance provider's stock worth $2,372,000 after buying an additional 8,170 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Truist Financial by 31.5% during the second quarter. Ritholtz Wealth Management now owns 8,860 shares of the insurance provider's stock valued at $381,000 after acquiring an additional 2,122 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its position in shares of Truist Financial by 55.2% in the second quarter. J.Safra Asset Management Corp now owns 8,171 shares of the insurance provider's stock valued at $348,000 after acquiring an additional 2,905 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of Truist Financial stock traded down $0.59 during trading on Friday, hitting $45.06. 5,655,946 shares of the company's stock traded hands, compared to its average volume of 8,786,515. Truist Financial has a 1 year low of $33.56 and a 1 year high of $49.06. The business has a 50-day simple moving average of $42.08 and a 200-day simple moving average of $42.09. The stock has a market capitalization of $59.01 billion, a P/E ratio of 12.28, a PEG ratio of 1.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86.

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

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 4.62%. Truist Financial's dividend payout ratio (DPR) is presently 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.