Shares of Truist Financial Co. (NYSE:TFC – Get Free Report) have earned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. Seven 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 target price among brokers that have issued ratings on the stock in the last year is $43.17.
Several research analysts have issued reports on the company. HSBC raised their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 22nd. UBS Group boosted their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Wells Fargo & Company boosted their price target on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. boosted their price target on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st.
Get Our Latest Stock Report on TFC
Truist Financial Price Performance
Shares of NYSE:TFC opened at $38.40 on Tuesday. Truist Financial has a 1-year low of $26.57 and a 1-year high of $40.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $38.22 and a 200-day moving average price of $36.40. The company has a market capitalization of $51.38 billion, a PE ratio of -29.09, a PEG ratio of 1.92 and a beta of 1.07.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the company earned $1.09 EPS. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities analysts expect that Truist Financial will post 3.33 EPS 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. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.
Insider Transactions at Truist Financial
In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated 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 in the company, valued at $604,627.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.
Institutional Trading of Truist Financial
Several institutional investors have recently bought and sold shares of the business. PFG Investments LLC acquired a new position in Truist Financial during the third quarter worth $204,000. Sigma Planning Corp raised its holdings in shares of Truist Financial by 12.2% in the 3rd quarter. Sigma Planning Corp now owns 11,661 shares of the insurance provider’s stock valued at $334,000 after buying an additional 1,271 shares during the period. Wealthspire Advisors LLC raised its holdings in shares of Truist Financial by 42.6% in the 3rd quarter. Wealthspire Advisors LLC now owns 31,396 shares of the insurance provider’s stock valued at $898,000 after buying an additional 9,379 shares during the period. Cape Investment Advisory Inc. raised its holdings in shares of Truist Financial by 7.4% in the 3rd quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock valued at $139,000 after buying an additional 335 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Truist Financial by 10.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,240,537 shares of the insurance provider’s stock valued at $35,492,000 after buying an additional 115,901 shares during the period. 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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Source: defenseworld.net
