Shares of Truist Financial Co. (NYSE:TFC – Get Free Report) have received an average rating of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $40.67.
Several research analysts have commented on TFC shares. 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 report on Thursday, March 28th. HSBC boosted their price target on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Barclays boosted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Piper Sandler boosted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Finally, Odeon Capital Group upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective for the company in a research report on Thursday, December 14th.
Read Our Latest Report on Truist Financial
Truist Financial Price Performance
Truist Financial stock opened at $38.09 on Monday. The company’s 50 day simple moving average is $36.57 and its 200-day simple moving average is $33.91. The company has a market capitalization of $50.83 billion, a price-to-earnings ratio of -35.27, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08. Truist Financial has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS 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 during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the business posted $1.30 EPS. As a group, equities research analysts expect that Truist Financial will post 3.35 earnings per share for the current year.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.46%. Truist Financial’s payout ratio is currently -192.59%.
Insiders Place Their Bets
In other Truist Financial 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 transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by insiders.
Hedge Funds Weigh In On Truist Financial
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Truist Financial by 13.7% during the 1st quarter. GAMMA Investing LLC now owns 8,333 shares of the insurance provider’s stock worth $325,000 after purchasing an additional 1,005 shares during the period. CWM LLC grew its stake in shares of Truist Financial by 41.7% during the 1st quarter. CWM LLC now owns 41,294 shares of the insurance provider’s stock worth $1,610,000 after purchasing an additional 12,158 shares during the period. Boltwood Capital Management grew its stake in shares of Truist Financial by 4.5% during the 1st quarter. Boltwood Capital Management now owns 11,515 shares of the insurance provider’s stock worth $449,000 after purchasing an additional 495 shares during the period. Trust Co. of Toledo NA OH grew its stake in shares of Truist Financial by 11.4% during the 1st quarter. Trust Co. of Toledo NA OH now owns 49,563 shares of the insurance provider’s stock worth $1,932,000 after purchasing an additional 5,083 shares during the period. Finally, Duncan Williams Asset Management LLC acquired a new position in shares of Truist Financial during the 1st quarter worth $228,000. 71.28% of the stock is owned by institutional investors and hedge funds.
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.
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