Truist Financial Co. (NYSE:TFC – Get Free Report) has earned an average recommendation of “Hold” from the seventeen research firms that are presently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $37.97.
A number of brokerages recently commented on TFC. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Friday. Evercore ISI upped their price target on shares of Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a report on Monday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of Truist Financial in a research note on Tuesday, September 12th. Bank of America lowered their target price on shares of Truist Financial from $35.00 to $32.00 in a research note on Tuesday, October 10th. Finally, Odeon Capital Group upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target for the company in a research report on Thursday, December 14th.
Read Our Latest Stock Analysis on Truist Financial
Insiders Place Their Bets
In other Truist Financial news, CEO William H. Rogers, Jr. acquired 10,000 shares of the stock in a transaction dated Friday, October 20th. The shares were bought at an average price of $28.05 per share, with a total value of $280,500.00. Following the purchase, the chief executive officer now directly owns 412,924 shares of the company’s stock, valued at approximately $11,582,518.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. acquired a new stake in shares of Truist Financial in the first quarter worth $25,000. OFI Invest Asset Management bought a new stake in Truist Financial in the third quarter valued at $26,000. JFS Wealth Advisors LLC increased its position in shares of Truist Financial by 617.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 968 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 833 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Truist Financial during the third quarter worth approximately $31,000. Finally, Quarry LP acquired a new stake in Truist Financial during the 1st quarter valued at $32,000. 71.11% of the stock is owned by hedge funds and other institutional investors.
Truist Financial Stock Down 1.0 %
Shares of NYSE:TFC opened at $36.92 on Friday. Truist Financial has a 1 year low of $25.56 and a 1 year high of $53.34. The business has a 50 day simple moving average of $32.27 and a two-hundred day simple moving average of $31.09. The firm has a market capitalization of $49.24 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.02). The firm had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a net margin of 17.59% and a return on equity of 10.74%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. On average, equities analysts predict that Truist Financial will post 3.76 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently declared a special dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, November 9th. This represents a dividend yield of 7.4%. Truist Financial’s dividend payout ratio (DPR) is 52.39%.
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.
See Also
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