Truist Financial Co. (NYSE:TFC) Receives $41.88 Consensus PT from Analysts

Shares of Truist Financial Co. (NYSE:TFC) have been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $42.70.

Several equities analysts have recently issued reports on TFC shares. JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Piper Sandler lifted their price objective on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. HSBC increased their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday. Citigroup lifted their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Friday.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred 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 owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in shares of Truist Financial by 4.0% in the third quarter. Commonwealth Equity Services LLC now owns 725,595 shares of the insurance provider’s stock worth $20,759,000 after purchasing an additional 27,627 shares during the period. SVB Wealth LLC increased its stake in Truist Financial by 84.2% in the 3rd quarter. SVB Wealth LLC now owns 21,161 shares of the insurance provider’s stock worth $605,000 after buying an additional 9,673 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Truist Financial by 10.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 344,777 shares of the insurance provider’s stock valued at $9,864,000 after acquiring an additional 33,405 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Truist Financial by 10.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 348,299 shares of the insurance provider’s stock valued at $9,965,000 after acquiring an additional 33,362 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Truist Financial by 4.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 764,736 shares of the insurance provider’s stock worth $21,879,000 after acquiring an additional 33,260 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock opened at $39.10 on Friday. The business’s fifty day moving average is $37.43 and its 200 day moving average is $35.42. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market cap of $52.18 billion, a price-to-earnings ratio of -29.62, 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the business earned $1.09 EPS. Truist Financial’s quarterly revenue was down 8.8% compared to the same quarter last year. Research analysts expect that Truist Financial will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend 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.