Truist Financial Corporation (NYSE:TFC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Truist Financial Corporation (NYSE:TFC) have been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $55.5938.

TFC has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley reduced their price target on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada increased their price target on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TFC. Kemnay Advisory Services Inc. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the third quarter worth approximately $28,000. McMillan Office Inc. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $31,000. Finally, Maseco LLP grew its holdings in shares of Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $48.12 on Friday. The company’s fifty day moving average price is $48.28 and its 200-day moving average price is $48.86. The firm has a market capitalization of $59.96 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.82 and a beta of 0.92. Truist Financial has a one year low of $38.67 and a one year high of $56.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Truist Financial will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.