Truist Financial Co. (NYSE:TFC – Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $37.51 and last traded at $38.37, with a volume of 7390821 shares trading hands. The stock had previously closed at $38.76.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Truist Financial from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Argus set a $43.00 price objective on shares of Truist Financial in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.83.
Check Out Our Latest Stock Analysis on TFC
Truist Financial Stock Performance
The stock’s 50 day moving average price is $39.48 and its 200 day moving average price is $43.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $51.71 billion, a PE ratio of 11.86, a P/E/G ratio of 1.63 and a beta of 0.83.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company posted $0.90 earnings per share. As a group, equities analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.27%. Truist Financial’s dividend payout ratio is currently 61.36%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Bangor Savings Bank grew its stake in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Truist Financial during the 4th quarter valued at approximately $26,000. Navigoe LLC purchased a new stake in Truist Financial during the 4th quarter worth approximately $26,000. Centennial Bank AR raised its position in shares of Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 580 shares in the last quarter. Finally, Sierra Ocean LLC boosted its stake in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after buying an additional 352 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.
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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