Robert W. Baird Upgrades Truist Financial (NYSE:TFC) to Outperform

Robert W. Baird upgraded shares of Truist Financial (NYSE:TFC – Get Rating) from a neutral rating to an outperform rating in a research note published on Monday morning, Marketbeat.com reports. They currently have $53.00 target price on the insurance provider’s stock.

A number of other research analysts have also recently weighed in on TFC. TheStreet raised Truist Financial from a c+ rating to a b- rating in a research report on Monday, January 23rd. Wells Fargo & Company decreased their target price on Truist Financial to $57.00 in a research note on Wednesday, December 14th. Morgan Stanley decreased their target price on Truist Financial from $59.00 to $56.00 and set an equal weight rating on the stock in a research note on Friday, January 20th. Deutsche Bank Aktiengesellschaft downgraded Truist Financial from a buy rating to a hold rating and decreased their target price for the company from $61.00 to $48.00 in a research note on Friday, January 6th. Finally, Keefe, Bruyette & Woods raised Truist Financial from an underperform rating to a market perform rating and decreased their target price for the company from $47.00 to $45.00 in a research note on Sunday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $51.58.

Truist Financial Stock Down 17.0 %

TFC stock opened at $32.24 on Monday. Truist Financial has a twelve month low of $30.51 and a twelve month high of $61.10. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market cap of $42.81 billion, a P/E ratio of 7.28, a PEG ratio of 1.01 and a beta of 1.10. The business’s 50-day moving average price is $46.87 and its 200-day moving average price is $45.40.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 6.45%. The ex-dividend date was Thursday, February 9th. Truist Financial’s dividend payout ratio is currently 46.95%.

Insider Activity

In other news, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the transaction, the insider now owns 307,069 shares of the company’s stock, valued at approximately $15,061,734.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Several large investors have recently modified their holdings of the stock. Fairfield Bush & CO. purchased a new position in Truist Financial during the 1st quarter valued at $25,000. Elequin Securities LLC purchased a new position in Truist Financial during the 4th quarter valued at $26,000. Newbridge Financial Services Group Inc. boosted its holdings in Truist Financial by 555.8% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 528 shares during the period. Webster Bank N. A. boosted its holdings in Truist Financial by 88.5% during the 3rd quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 300 shares during the period. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Truist Financial during the 4th quarter valued at $28,000. Institutional investors own 72.49% of the company’s stock.

About Truist Financial

(Get Rating)

Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.