Truist Financial (NYSE:TFC) PT Raised to $45.00 at Citigroup

Truist Financial (NYSE:TFC) had its price target lifted by Citigroup from $42.00 to $45.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

TFC has been the subject of a number of other reports. TheStreet downgraded shares of Truist Financial from a b- rating to a c rating in a research note on Tuesday, February 20th. Jefferies Financial Group upped their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a hold rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an outperform rating in a research note on Friday, April 5th. UBS Group upped their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 5th. Finally, Compass Point raised shares of Truist Financial from a neutral rating to a buy rating and upped their target price for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $41.97.

Truist Financial Trading Up 0.5 %

TFC opened at $38.17 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $50.94 billion, a price-to-earnings ratio of -28.92, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The firm has a 50 day simple moving average of $36.90 and a 200 day simple moving average of $34.86. Truist Financial has a fifty-two week low of $25.56 and a fifty-two week high of $39.29.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion during 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%. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, sell-side analysts anticipate that Truist Financial will post 3.27 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.45%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at $29,000. Rise Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at $32,000. Missouri Trust & Investment Co lifted its stake in Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the last quarter. Northwest Financial Advisors acquired a new stake in Truist Financial in the fourth quarter valued at $34,000. Finally, Morton Brown Family Wealth LLC lifted its stake in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the last quarter. 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.