Truist Financial Co. (NYSE:TFC – Get Free Report) Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Truist Financial Price Performance
Truist Financial stock opened at $37.44 on Monday. 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 Co. has a 52 week low of $25.56 and a 52 week high of $43.38. The stock has a market capitalization of $49.96 billion, a P/E ratio of -34.67, a price-to-earnings-growth ratio of 1.60 and a beta of 1.07. The stock has a fifty day moving average of $36.50 and a 200-day moving average of $32.83.
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 analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the previous year, the firm earned $1.30 EPS. On average, sell-side analysts expect that Truist Financial Co. will post 3.35 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors 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 5.56%. Truist Financial’s dividend payout ratio is currently -192.59%.
Institutional Investors Weigh In On Truist Financial
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in shares of Truist Financial in the 1st quarter valued at about $25,000. West Tower Group LLC bought a new stake in shares of Truist Financial in the 4th quarter valued at about $29,000. Missouri Trust & Investment Co grew its position in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Truist Financial in the 4th quarter valued at about $32,000. Finally, Northwest Financial Advisors bought a new stake in shares of Truist Financial in the 4th quarter valued at about $34,000. Institutional investors own 71.11% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on TFC. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Evercore ISI boosted their price target on Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Monday, November 20th. Odeon Capital Group upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target for the company in a research note on Thursday, December 14th. Finally, Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, January 4th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.87.
Check Out Our Latest Stock Report on TFC
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
