Truist Financial (NYSE:TFC) Downgraded by StockNews.com

StockNews.com downgraded shares of Truist Financial (NYSE:TFC) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Several other equities analysts have also issued reports on the company. Baird R W lowered Truist Financial from a strong-buy rating to a hold rating in a research report on Wednesday, July 17th. Morgan Stanley boosted their price target on Truist Financial from $44.00 to $46.00 and gave the company an equal weight rating in a research note on Tuesday. Stephens boosted their price target on Truist Financial from $43.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, May 16th. Compass Point upgraded Truist Financial from a neutral rating to a buy rating and boosted their price target for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Finally, Piper Sandler boosted their price target on Truist Financial from $38.00 to $41.00 and gave the company a neutral rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of Hold and an average price target of $45.05.

Truist Financial Stock Up 1.2 %

Shares of Truist Financial stock opened at $44.12 on Tuesday. The stock has a market capitalization of $59.04 billion, a price-to-earnings ratio of -33.42, a P/E/G ratio of 2.07 and a beta of 1.07. The company’s 50 day moving average price is $38.72 and its 200-day moving average price is $37.70. Truist Financial has a 52-week low of $26.57 and a 52-week high of $44.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 earnings per share. Equities research analysts forecast that Truist Financial will post 3.56 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.71%. Truist Financial’s dividend payout ratio is currently -157.58%.

Insiders Place Their Bets

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter worth about $29,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial during the 2nd quarter worth about $30,000. Missouri Trust & Investment Co boosted its stake in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter worth about $32,000. 71.28% of the stock is owned by hedge funds and other 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.