Truist Financial Co. (NYSE:TFC) Receives Average Rating of “Moderate Buy” from Analysts

Truist Financial Co. (NYSE:TFC) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $43.17.

A number of equities analysts have recently issued reports on the company. HSBC raised their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Stephens raised their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Keefe, Bruyette & Woods raised their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. raised their target price on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI reissued an “in-line” rating and issued a $44.00 price objective on shares of Truist Financial in a research note on Thursday, May 9th.

Truist Financial Price Performance

Truist Financial stock opened at $36.89 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $49.36 billion, a PE ratio of -27.95, a P/E/G ratio of 1.95 and a beta of 1.06. Truist Financial has a 12 month low of $26.57 and a 12 month high of $40.51. The stock has a 50-day moving average price of $37.78 and a two-hundred day moving average price of $37.09.

Truist Financial (NYSE:TFC) last posted its earnings results 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 firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts expect that Truist Financial will post 3.36 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.64%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Institutional Trading of Truist Financial

A number of hedge funds have recently bought and sold shares of the business. Abich Financial Wealth Management LLC lifted its holdings in Truist Financial by 47.4% during the first quarter. Abich Financial Wealth Management LLC now owns 3,700 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 1,189 shares during the period. Cape Investment Advisory Inc. raised its stake in shares of Truist Financial by 8.7% in the first quarter. Cape Investment Advisory Inc. now owns 5,372 shares of the insurance provider’s stock valued at $209,000 after buying an additional 429 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Truist Financial by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 6,933 shares of the insurance provider’s stock valued at $260,000 after buying an additional 472 shares during the period. Pathway Financial Advisers LLC bought a new stake in shares of Truist Financial in the first quarter valued at $1,877,000. Finally, Cetera Advisors LLC raised its stake in shares of Truist Financial by 61.7% in the first quarter. Cetera Advisors LLC now owns 99,857 shares of the insurance provider’s stock valued at $3,892,000 after buying an additional 38,087 shares during the period. 71.28% of the stock is currently owned by institutional investors.

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.