Truist Financial (NYSE:TFC) Price Target Raised to $49.00 at UBS Group

Truist Financial (NYSE:TFC) had its price objective increased by UBS Group from $45.00 to $49.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other brokerages have also weighed in on TFC. StockNews.com lowered shares of Truist Financial from a hold rating to a sell rating in a research report on Thursday, March 28th. Morgan Stanley upped their price target on shares of Truist Financial from $38.00 to $43.00 and gave the company an equal weight rating in a report on Tuesday, January 30th. Stephens raised shares of Truist Financial from an equal weight rating to an overweight rating and upped their price objective for the company from $41.00 to $43.00 in a research note on Tuesday, March 19th. HSBC upped their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the company a hold rating in a research note on Thursday, March 28th. Finally, Bank of America raised shares of Truist Financial from a neutral rating to a buy rating and set a $43.00 price objective on the stock in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $40.67.

Truist Financial Stock Up 0.4 %

Shares of Truist Financial stock opened at $38.09 on Friday. Truist Financial has a 52-week low of $25.56 and a 52-week high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The company’s 50-day simple moving average is $36.57 and its 200-day simple moving average is $33.77.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business posted $1.30 earnings per share. Analysts predict that Truist Financial will post 3.35 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s payout ratio is currently -192.59%.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Large investors have recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in Truist Financial during the 1st quarter valued at $25,000. West Tower Group LLC bought a new position in Truist Financial during the 4th quarter valued at $29,000. Missouri Trust & Investment Co boosted its stake in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Truist Financial during the 4th quarter valued at $32,000. Finally, Northwest Financial Advisors bought a new position in Truist Financial during the 4th quarter valued at $34,000. 71.28% of the stock is owned by institutional investors and hedge funds.

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.