Truist Financial Corporation (NYSE:TFC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Truist Financial Corporation has received a consensus recommendation of "Moderate Buy" from 17 brokerages, with an average 1-year target price of $48.47.
• The company reported earnings of $0.91 EPS for the last quarter, falling short of estimates, and has seen a significant revenue decline of 406% year-over-year.
• Truist Financial recently announced a quarterly dividend of $0.52 per share, translating to an annual yield of 4.6%.

Truist Financial Corporation (NYSE:TFC - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $48.4706.

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods cut Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target for the company. in a research note on Wednesday, July 9th. 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. Wells Fargo & Company reiterated an "equal weight" rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a research note on Monday, July 21st. Finally, Citigroup upgraded 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.

Truist Financial Price Performance

Truist Financial stock opened at $45.22 on Monday. Truist Financial has a 12 month low of $33.56 and a 12 month high of $49.06. The stock's 50 day moving average is $45.02 and its 200-day moving average is $41.69. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $58.30 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.69 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS 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 analyst estimates of $5.04 billion. During the same period in the previous year, the company posted $0.91 EPS. Truist Financial's revenue for the quarter was down 406.0% compared to the same quarter last year. Equities research analysts expect that Truist Financial will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.6%. Truist Financial's dividend payout ratio is presently 56.68%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Truist Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Truist Financial during the second quarter worth $487,401,000. Victory Capital Management Inc. increased its holdings in shares of Truist Financial by 922.9% during the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider's stock worth $274,237,000 after buying an additional 6,012,817 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock worth $540,723,000 after buying an additional 3,188,999 shares in the last quarter. Nuveen LLC acquired a new position in shares of Truist Financial during the first quarter worth $117,929,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Truist Financial by 610.8% during the first quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider's stock worth $109,537,000 after buying an additional 2,287,410 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

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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