Truist Financial (NYSE:TFC) Reaches New 1-Year Low at $28.70

Truist Financial Co. (NYSE:TFC – Get Rating)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $28.70 and last traded at $29.91, with a volume of 5784683 shares traded. The stock had previously closed at $32.10.

Analyst Ratings Changes

Several research firms have commented on TFC. Keefe, Bruyette & Woods raised Truist Financial from an “underperform” rating to a “market perform” rating and cut their price target for the company from $47.00 to $45.00 in a report on Sunday, March 12th. StockNews.com initiated coverage on Truist Financial in a research note on Thursday. They issued a “hold” rating for the company. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a report on Monday, March 13th. TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a report on Monday, January 23rd. Finally, Wells Fargo & Company reduced their target price on Truist Financial to $57.00 in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.58.

Truist Financial Stock Performance

The stock has a 50-day moving average of $45.85 and a 200-day moving average of $44.99. The firm has a market cap of $40.59 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders 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 6.81%. The ex-dividend date of this dividend was Thursday, February 9th. Truist Financial’s dividend payout ratio (DPR) is 46.95%.

Insiders Place Their Bets

In related news, Director David M. Ratcliffe purchased 13,125 shares of the stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $38.08 per share, with a total value of $499,800.00. Following the transaction, the director now directly owns 39,025 shares of the company’s stock, valued at $1,486,072. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 directly owns 307,069 shares of the company’s stock, valued at approximately $15,061,734.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David M. Ratcliffe bought 13,125 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were acquired at an average cost of $38.08 per share, for a total transaction of $499,800.00. Following the completion of the acquisition, the director now directly owns 39,025 shares in the company, valued at approximately $1,486,072. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fairfield Bush & CO. bought a new stake in Truist Financial in the 1st quarter valued at $25,000. Elequin Securities LLC bought a new stake in shares of Truist Financial during the 4th quarter valued at $26,000. Newbridge Financial Services Group Inc. lifted its position in shares of 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. raised its holdings in shares of Truist Financial by 88.5% during the 3rd quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of Truist Financial during the 4th quarter worth $28,000. 72.49% of the stock is owned by institutional investors and hedge funds.

About Truist Financial

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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.