Truist Financial Co. (NYSE:TFC) Given Average Rating of “Moderate Buy” by Brokerages

Truist Financial Co. (NYSE:TFCGet Free Report) has been given an average rating of “Moderate Buy” by the twenty-two research firms that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.79.

A number of research firms have recently commented on TFC. UBS Group raised their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Citigroup upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Compass Point upped their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

Check Out Our Latest Analysis on TFC

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Large investors have recently bought and sold shares of the company. AMF Tjanstepension AB acquired a new position in shares of Truist Financial in the 3rd quarter valued at $3,208,000. Czech National Bank grew its stake in Truist Financial by 7.0% in the third quarter. Czech National Bank now owns 272,797 shares of the insurance provider’s stock valued at $11,668,000 after acquiring an additional 17,811 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Truist Financial by 0.6% in the third quarter. Handelsbanken Fonder AB now owns 279,139 shares of the insurance provider’s stock worth $11,939,000 after acquiring an additional 1,591 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Truist Financial by 29.7% during the third quarter. GAMMA Investing LLC now owns 24,308 shares of the insurance provider’s stock worth $1,040,000 after purchasing an additional 5,572 shares during the period. Finally, Traveka Wealth LLC bought a new position in shares of Truist Financial during the 3rd quarter valued at about $244,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.8 %

Shares of TFC opened at $47.64 on Friday. The stock’s 50-day moving average price is $45.55 and its 200 day moving average price is $44.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 12-month low of $34.23 and a 12-month high of $49.06. The firm has a market capitalization of $63.24 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.68 and a beta of 1.08.

Truist Financial (NYSE:TFCGet Free Report) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. As a group, research analysts predict that Truist Financial will post 3.95 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.37%. Truist Financial’s payout ratio is 62.46%.

About Truist Financial

(Get Free Report

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.

Further Reading

Analyst Recommendations for Truist Financial (NYSE:TFC)

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