Shares of Truist Financial Co. (NYSE:TFC – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $39.87.
TFC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. TheStreet raised Truist Financial from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. Royal Bank of Canada upped their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Evercore ISI increased their target price on Truist Financial from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Monday, November 20th. Finally, UBS Group increased their target price on Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th.
Check Out Our Latest Stock Report on Truist Financial
Hedge Funds Weigh In On Truist Financial
Institutional investors have recently bought and sold shares of the stock. Keybank National Association OH increased its holdings in shares of Truist Financial by 1.1% in the second quarter. Keybank National Association OH now owns 116,752 shares of the insurance provider’s stock worth $3,543,000 after purchasing an additional 1,289 shares during the last quarter. Douglas Lane & Associates LLC grew its position in Truist Financial by 6.3% in the third quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock worth $44,189,000 after acquiring an additional 91,579 shares in the last quarter. Loudon Investment Management LLC grew its position in Truist Financial by 18.5% in the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after acquiring an additional 20,490 shares in the last quarter. Van ECK Associates Corp grew its position in Truist Financial by 15.9% in the second quarter. Van ECK Associates Corp now owns 226,215 shares of the insurance provider’s stock worth $6,866,000 after acquiring an additional 31,069 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Truist Financial by 36.5% during the second quarter. Cerity Partners LLC now owns 679,604 shares of the insurance provider’s stock valued at $20,626,000 after buying an additional 181,828 shares during the period. 71.11% of the stock is owned by institutional investors.
Truist Financial Price Performance
TFC opened at $36.10 on Friday. The stock has a 50-day moving average price of $36.66 and a 200-day moving average price of $32.25. Truist Financial has a 12-month low of $25.56 and a 12-month high of $48.53. 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 stock has a market capitalization of $48.15 billion, a P/E ratio of -33.43, a PEG ratio of 1.53 and a beta of 1.09.
Truist Financial (NYSE:TFC – Get Free Report) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the prior year, the business posted $1.30 EPS. Equities analysts predict that Truist Financial will post 3.39 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.76%. Truist Financial’s dividend payout ratio is currently -192.59%.
About Truist Financial
Truist Financial Corporation, a holding 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.
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