Truist Financial (NYSE:TFC) Price Target Increased to $46.00 by Analysts at Keefe, Bruyette & Woods

Truist Financial (NYSE:TFC) had its price target upped by Keefe, Bruyette & Woods from $45.00 to $46.00 in a research report released on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an outperform rating in a report on Friday, January 19th. Piper Sandler increased their target price on Truist Financial from $37.00 to $38.00 and gave the stock a neutral rating in a report on Friday, January 19th. StockNews.com raised Truist Financial from a sell rating to a hold rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the stock a neutral rating in a report on Wednesday, May 1st. Finally, Stephens restated an overweight rating and issued a $43.00 price target on shares of Truist Financial in a research report on Tuesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Truist Financial has an average rating of Moderate Buy and a consensus target price of $42.06.

Truist Financial Price Performance

TFC opened at $39.39 on Wednesday. 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 company has a fifty day simple moving average of $37.34 and a 200 day simple moving average of $35.39. The firm has a market cap of $52.57 billion, a price-to-earnings ratio of -29.84, a PEG ratio of 2.03 and a beta of 1.07. Truist Financial has a twelve month low of $26.49 and a twelve month high of $40.35.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts expect that Truist Financial will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.28%. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. OFI Invest Asset Management bought a new position in Truist Financial in the 3rd quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in Truist Financial during the 1st quarter valued at approximately $29,000. Operose Advisors LLC bought a new position in Truist Financial in the 3rd quarter worth approximately $31,000. Missouri Trust & Investment Co lifted its holdings in shares of Truist Financial by 227.2% during the fourth 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. Finally, Rise Advisors LLC bought a new position in Truist Financial during the first quarter worth $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Company Profile

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.