Truist Financial Co. (NYSE:TFC) Receives Average Recommendation of “Moderate Buy” from Analysts

Truist Financial Co. (NYSE:TFC) has earned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $41.88.

A number of research firms have weighed in on TFC. UBS Group upped their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Citigroup increased their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd.

Truist Financial Stock Performance

Truist Financial stock opened at $39.11 on Friday. 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 capitalization of $52.20 billion, a price-to-earnings ratio of -29.63, a PEG ratio of 2.03 and a beta of 1.07. Truist Financial has a fifty-two week low of $26.49 and a fifty-two week high of $40.35. The stock has a fifty day moving average of $37.34 and a two-hundred day moving average of $35.39.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (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 last year, the business earned $1.09 earnings per share. Truist Financial’s revenue was down 8.8% compared to the same quarter last year. On average, analysts anticipate that Truist Financial will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Truist Financial in the 4th quarter valued at approximately $307,787,000. Parnassus Investments LLC bought a new stake in shares of Truist Financial during the 4th quarter worth $95,049,000. North Reef Capital Management LP acquired a new position in Truist Financial during the third quarter worth about $66,804,000. Azora Capital LP acquired a new position in Truist Financial during the 4th quarter worth approximately $72,498,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Truist Financial by 342.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after acquiring an additional 1,955,448 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

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.