Truist Financial Co. (NYSE:TFC) Receives Consensus Recommendation of “Hold” from Analysts

Truist Financial Co. (NYSE:TFCGet Rating) has earned an average rating of “Hold” from the nineteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $45.94.

A number of equities analysts recently issued reports on the company. Morgan Stanley decreased their target price on Truist Financial from $42.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, April 21st. Barclays lowered their price target on Truist Financial from $57.00 to $44.00 in a report on Wednesday, April 12th. Credit Suisse Group lowered their price target on Truist Financial from $52.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, April 21st. Royal Bank of Canada lowered their price target on Truist Financial from $54.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, April 21st. Finally, Wells Fargo & Company lowered their price target on Truist Financial from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Monday, April 3rd.

Truist Financial Price Performance

TFC stock opened at $30.53 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.86 and a current ratio of 0.87. Truist Financial has a 1 year low of $25.56 and a 1 year high of $53.34. The firm has a market cap of $40.66 billion, a P/E ratio of 6.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.05. The stock has a 50-day simple moving average of $31.31 and a 200-day simple moving average of $40.34.

Truist Financial (NYSE:TFCGet Rating) last issued its quarterly earnings data on Thursday, April 20th. The insurance provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.09 billion. Truist Financial had a net margin of 22.81% and a return on equity of 12.37%. Truist Financial’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 EPS. On average, equities analysts predict that Truist Financial will post 4.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 12th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $2.08 annualized dividend and a dividend yield of 6.81%. Truist Financial’s payout ratio is currently 46.33%.

Insider Buying and Selling at Truist Financial

In related news, Director David M. Ratcliffe bought 13,125 shares of the stock in a transaction dated Friday, March 10th. The stock was bought at an average price of $38.08 per share, with a total value of $499,800.00. Following the purchase, the director now owns 39,025 shares in the company, valued at approximately $1,486,072. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David M. Ratcliffe bought 13,125 shares of Truist Financial stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the acquisition, the director now owns 39,025 shares of the company’s stock, valued at $1,486,072. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles A. Patton bought 3,668 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were acquired at an average price of $19.00 per share, for a total transaction of $69,692.00. Following the completion of the purchase, the director now owns 3,668 shares in the company, valued at approximately $69,692. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Institutional investors have recently bought and sold shares of the stock. Fairfield Bush & CO. purchased a new position in shares of Truist Financial during the first quarter valued at about $25,000. United Bank raised its stake in Truist Financial by 4.1% in the first quarter. United Bank now owns 74,457 shares of the insurance provider’s stock worth $4,222,000 after buying an additional 2,938 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Truist Financial by 33.3% in the first quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock worth $1,495,000 after purchasing an additional 6,593 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Truist Financial by 3.3% in the first quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock worth $1,348,000 after purchasing an additional 738 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Truist Financial by 8.1% during the first quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after buying an additional 4,234 shares during the last quarter. 72.49% of the stock is owned by institutional investors.

About Truist Financial

(Get Rating)

Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.

See Also

Analyst Recommendations for Truist Financial (NYSE:TFC)

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