Barclays began coverage on shares of Truist Financial (NYSE:TFC – Free Report) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $43.00 price objective on the insurance provider’s stock.
Several other equities research analysts also recently weighed in on TFC. Citigroup increased their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Jefferies Financial Group increased their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a hold rating in a research report on Monday, April 8th. Morgan Stanley reiterated an equal weight rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. HSBC upped their price target on Truist Financial from $40.00 to $41.00 and gave the stock a hold rating in a research note on Wednesday, May 8th. Finally, Stephens reiterated an overweight rating and issued a $43.00 price objective on shares of Truist Financial in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $43.17.
Truist Financial Trading Down 0.4 %
NYSE:TFC opened at $39.97 on Thursday. Truist Financial has a 52-week low of $26.57 and a 52-week high of $40.51. The stock’s 50 day moving average price is $37.88 and its 200 day moving average price is $36.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.
Truist Financial (NYSE:TFC – Get Free Report) 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 business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial will post 3.34 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.20%. Truist Financial’s dividend payout ratio is presently -157.58%.
Insider Buying and Selling at Truist Financial
In other 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 transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Truist Financial
Institutional investors and hedge funds have recently bought and sold shares of the stock. Valmark Advisers Inc. lifted its position in shares of Truist Financial by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 277 shares in the last quarter. Texas Yale Capital Corp. raised its stake in Truist Financial by 2.4% in the 1st quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock valued at $472,000 after purchasing an additional 280 shares during the last quarter. Whalen Wealth Management Inc. lifted its holdings in Truist Financial by 4.8% in the 1st quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock valued at $247,000 after purchasing an additional 288 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of Truist Financial by 19.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock worth $70,000 after purchasing an additional 290 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its holdings in shares of Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after buying an additional 296 shares in the last quarter. Hedge funds and other institutional investors 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.
Read More
Receive News & Ratings for Truist Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Truist Financial and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
