Truist Financial (NYSE:TFC – Free Report) had its price target raised by Stephens from $43.00 to $47.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.
Several other research firms have also recently weighed in on TFC. TheStreet cut Truist Financial from a b- rating to a c rating in a report on Tuesday, February 20th. 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 report on Monday, April 8th. Wells Fargo & Company increased their target price on Truist Financial from $39.00 to $45.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Compass Point raised Truist Financial from a neutral rating to a buy rating and increased their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Finally, Morgan Stanley reissued an equal weight rating and issued a $43.00 target price on shares of Truist Financial in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $43.17.
Get Our Latest Report on Truist Financial
Truist Financial Stock Performance
NYSE TFC opened at $39.97 on Thursday. Truist Financial has a fifty-two week low of $26.57 and a fifty-two week high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $37.88 and a two-hundred day simple moving average of $35.99.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share 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 business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the business posted $1.09 EPS. The business’s revenue was down 8.8% on a year-over-year basis. Research analysts forecast that Truist Financial will post 3.34 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.
Insider Activity at Truist Financial
In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the 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 sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.
Institutional Trading of Truist Financial
Institutional investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in Truist Financial during the 3rd quarter valued at $26,000. Crewe Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter worth $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter worth $29,000. Operose Advisors LLC purchased a new position in shares of Truist Financial in the 3rd quarter worth $31,000. Finally, Missouri Trust & Investment Co boosted its stake 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 worth $32,000 after buying an additional 593 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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Source: defenseworld.net
