Truist Financial Co. (NYSE:TFC) Receives $43.17 Average PT from Brokerages

Truist Financial Co. (NYSE:TFC) has been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $43.28.

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised 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. HSBC raised their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Citigroup upped their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company boosted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st.

Hedge Funds Weigh In On Truist Financial

Several large investors have recently added to or reduced their stakes in TFC. Verum Partners LLC raised its holdings in shares of Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after purchasing an additional 261 shares during the period. CX Institutional raised its stake in Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 263 shares during the period. Valmark Advisers Inc. lifted its holdings in Truist Financial by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after acquiring an additional 277 shares during the last quarter. Texas Yale Capital Corp. boosted its stake in Truist Financial by 2.4% in the first quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock valued at $472,000 after acquiring an additional 280 shares during the period. Finally, Whalen Wealth Management Inc. grew its holdings in shares of Truist Financial by 4.8% during the first quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock valued at $247,000 after purchasing an additional 288 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

NYSE:TFC opened at $42.41 on Wednesday. Truist Financial has a 12-month low of $26.57 and a 12-month high of $43.46. The firm has a market cap of $56.75 billion, a price-to-earnings ratio of -32.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.07. The company’s 50-day moving average is $38.38 and its two-hundred day moving average is $37.52. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Research analysts expect that Truist Financial will post 3.44 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.90%. Truist Financial’s payout ratio is -157.58%.

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.