Truist Financial Corporation (NYSE:TFC) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Truist Financial has an average analyst rating of “Hold” from 18 brokerages, with 10 holds, 7 buys and 1 sell. The average 1-year price target is about $54.47.
• Several firms recently trimmed their outlooks, including JPMorgan, UBS, Robert W. Baird and Citigroup, with multiple analysts lowering price targets and shifting to neutral ratings.
• The company reported better-than-expected quarterly earnings of $1.09 per share and revenue of $5.20 billion, and it continues to offer a 4.0% dividend yield after paying a $0.52 quarterly dividend.

Truist Financial Corporation (NYSE:TFC - Get Free Report) has been assigned an average rating of "Hold" from the eighteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $54.4722.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Truist Financial from $57.00 to $51.50 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. UBS Group downgraded shares of Truist Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $58.00 to $55.00 in a report on Tuesday, July 7th. Stephens started coverage on shares of Truist Financial in a research note on Monday, June 15th. They set an "overweight" rating and a $59.00 target price for the company. Robert W. Baird cut shares of Truist Financial from an "outperform" rating to a "neutral" rating and set a $55.00 target price for the company. in a report on Friday, May 1st. Finally, Citigroup lowered shares of Truist Financial from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $63.00 to $54.00 in a research report on Tuesday, June 30th.

Hedge Funds Weigh In On Truist Financial

A number of hedge funds have recently modified their holdings of TFC. Auto Owners Insurance Co boosted its position in shares of Truist Financial by 4,821.0% in the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider's stock valued at $697,428,000 after purchasing an additional 13,884,480 shares during the period. Wellington Management Group LLP increased its position in shares of Truist Financial by 13,511.7% in the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider's stock worth $474,886,000 after acquiring an additional 10,310,523 shares in the last quarter. Norges Bank purchased a new position in shares of Truist Financial in the fourth quarter worth approximately $502,340,000. American Assets Investment Management LLC lifted its position in shares of Truist Financial by 781.2% in the 4th quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider's stock valued at $166,527,000 after acquiring an additional 3,000,000 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Truist Financial by 37.6% in the 4th quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider's stock valued at $516,732,000 after acquiring an additional 2,867,449 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of TFC stock traded up $0.34 during mid-day trading on Friday, hitting $51.71. 6,037,025 shares of the stock traded hands, compared to its average volume of 10,161,204. Truist Financial has a twelve month low of $40.78 and a twelve month high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The company's 50-day simple moving average is $49.18 and its 200-day simple moving average is $49.44. The firm has a market cap of $64.43 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.91 and a beta of 0.89.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, equities research analysts expect that Truist Financial will post 4.51 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial's dividend payout ratio (DPR) is currently 51.61%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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