Truist Financial (NYSE:TFC) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Truist Financial (NYSE:TFC) from a sell rating to a hold rating in a research note released on Thursday morning.

Other equities research analysts have also recently issued research reports about the stock. Raymond James raised their target price on shares of Truist Financial from $34.00 to $41.00 and gave the stock an outperform rating in a report on Friday, January 5th. TheStreet lowered Truist Financial from a b- rating to a c rating in a report on Tuesday, February 20th. Compass Point raised Truist Financial from a neutral rating to a buy rating and increased their target price for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Jefferies Financial Group boosted their price target on Truist Financial from $40.00 to $41.00 and gave the company a hold rating in a research note on Monday, April 8th. Finally, Piper Sandler increased their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Friday, January 19th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has an average rating of Moderate Buy and an average target price of $41.88.

Truist Financial Stock Up 1.3 %

TFC stock traded up $0.50 during midday trading on Thursday, hitting $38.85. The company’s stock had a trading volume of 8,081,419 shares, compared to its average volume of 8,655,990. The firm’s 50-day moving average is $37.08 and its 200-day moving average is $35.07. 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 has a 12 month low of $25.56 and a 12 month high of $39.29. The company has a market cap of $51.85 billion, a PE ratio of -29.43, a P/E/G ratio of 2.01 and a beta of 1.07.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the firm posted $1.09 earnings per share. Truist Financial’s revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Truist Financial will post 3.3 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company 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. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insider Activity at Truist Financial

In other Truist Financial 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Truist Financial

Large investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the first quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in Truist Financial in the 1st quarter worth about $32,000. Missouri Trust & Investment Co lifted its holdings in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares in the last quarter. Northwest Financial Advisors purchased a new stake in Truist Financial in the 4th quarter valued at about $34,000. Finally, Morton Brown Family Wealth LLC increased its position in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the period. Institutional investors 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.