Truist Financial (NYSE:TFC) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Truist Financial (NYSE:TFC) from a sell rating to a hold rating in a research note issued to investors on Thursday.

TFC has been the topic of several other research reports. HSBC upped their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a hold rating in a report on Thursday, March 28th. Compass Point upgraded Truist Financial from a neutral rating to a buy rating and raised their price target for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $44.00 to $45.00 and gave the stock an outperform rating in a report on Friday, April 5th. Bank of America raised shares of Truist Financial from a neutral rating to a buy rating and set a $43.00 target price on the stock in a research note on Thursday, January 4th. Finally, Wells Fargo & Company boosted their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $41.88.

Truist Financial Trading Up 1.3 %

Shares of TFC opened at $38.85 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $51.85 billion, a price-to-earnings ratio of -29.43, a PEG ratio of 2.03 and a beta of 1.07. The stock has a fifty day moving average price of $37.16 and a two-hundred day moving average price of $35.22. Truist Financial has a 52-week low of $25.56 and a 52-week high of $39.29.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s revenue was down 8.8% on a year-over-year basis. Analysts predict that Truist Financial will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Insider Transactions at Truist Financial

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

Hedge Funds Weigh In On Truist Financial

Several hedge funds have recently made changes to their positions in TFC. Bleakley Financial Group LLC lifted its position in Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after buying an additional 1,731 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after purchasing an additional 117,524 shares during the last quarter. International Assets Investment Management LLC grew its stake in Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares in the last quarter. Loudon Investment Management LLC increased its position in shares of Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares during the last quarter. Finally, Pathstone Family Office LLC raised its stake in shares of Truist Financial by 84.8% during the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 44,659 shares in the last quarter. 71.28% of the stock is 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.