Truist Financial Corporation (NYSE:TFC) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Truist Financial Corporation has received a consensus recommendation of "Moderate Buy" from 17 research firms, with an average target price set at $48.65.
• Recent insider activity includes a significant sale of 12,540 shares by Bradley D. Bender, reducing insider ownership by 96.17%.
• The company announced a quarterly dividend of $0.52, resulting in an annualized dividend yield of 4.7%, reflecting a solid payout ratio of 56.68%.

Shares of Truist Financial Corporation (NYSE:TFC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.6471.

TFC has been the subject of a number of research reports. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. TD Cowen initiated coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price on the stock. Keefe, Bruyette & Woods cut shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price for the company. in a report on Wednesday, July 9th. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and raised their target price for the stock from $44.00 to $55.00 in a report on Thursday, June 26th.

Insider Activity

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider owned 500 shares of the company's stock, valued at $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company's stock.

Hedge Funds Weigh In On Truist Financial

A number of institutional investors have recently modified their holdings of TFC. Comerica Bank increased its stake in shares of Truist Financial by 3.6% during the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after acquiring an additional 15,499 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Truist Financial by 81.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock worth $48,085,000 after buying an additional 498,531 shares during the period. Code Waechter LLC acquired a new stake in Truist Financial in the first quarter worth $365,000. Cantor Fitzgerald Investment Advisors L.P. grew its stake in shares of Truist Financial by 4.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock worth $17,927,000 after purchasing an additional 19,286 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in Truist Financial by 55.1% during the first quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider's stock valued at $5,530,000 after buying an additional 47,717 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.6%

Shares of NYSE:TFC opened at $44.4280 on Thursday. The company has a market capitalization of $57.29 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a 50-day simple moving average of $43.54 and a 200 day simple moving average of $41.84.

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

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be given a $0.52 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial's dividend payout ratio (DPR) is 56.68%.

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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