Recent Research Analysts’ Ratings Changes for Truist Financial (TFC)

Posted by Defense World Staff on Dec 4th, 2024

A number of firms have modified their ratings and price targets on shares of Truist Financial (NYSE: TFC) recently:

12/3/2024 – Truist Financial had its price target raised by analysts at Piper Sandler from $46.00 to $51.00. They now have a “neutral” rating on the stock.
11/26/2024 – Truist Financial had its price target raised by analysts at The Goldman Sachs Group, Inc. from $50.00 to $60.00. They now have a “buy” rating on the stock.
11/25/2024 – Truist Financial had its price target raised by analysts at Citigroup Inc. from $47.00 to $51.00. They now have a “neutral” rating on the stock.
11/15/2024 – Truist Financial had its price target raised by analysts at Wells Fargo & Company from $48.00 to $52.00. They now have an “overweight” rating on the stock.
10/18/2024 – Truist Financial had its price target raised by analysts at Royal Bank of Canada from $45.00 to $46.00. They now have an “outperform” rating on the stock.
10/18/2024 – Truist Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
10/18/2024 – Truist Financial had its price target raised by analysts at UBS Group AG from $47.00 to $49.00. They now have a “buy” rating on the stock.
10/16/2024 – Truist Financial had its price target raised by analysts at Keefe, Bruyette & Woods from $48.00 to $49.00. They now have an “overweight” rating on the stock.
10/16/2024 – Truist Financial had its price target raised by analysts at JPMorgan Chase & Co. from $43.50 to $47.00. They now have a “neutral” rating on the stock.
10/16/2024 – Truist Financial had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $50.00 to $48.00. They now have a “buy” rating on the stock.
10/16/2024 – Truist Financial had its price target raised by analysts at Compass Point from $46.00 to $47.00.

Truist Financial Stock Down 1.2 %

TFC stock opened at $46.43 on Wednesday. The firm has a 50-day moving average price of $44.42 and a 200-day moving average price of $41.93. Truist Financial Co. has a 12 month low of $32.78 and a 12 month high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $61.64 billion, a P/E ratio of -32.47, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06.

Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.48%. Truist Financial’s dividend payout ratio is currently -145.45%.

Insiders Place Their Bets

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

Institutional investors have recently modified their holdings of the business. Tradewinds LLC. raised its holdings in Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares during the last quarter. Capital Investment Counsel Inc lifted its holdings in Truist Financial by 0.4% in the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after buying an additional 244 shares during the period. Burkett Financial Services LLC boosted its position in Truist Financial by 26.8% during the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 253 shares during the last quarter. Verum Partners LLC grew its holdings in Truist Financial by 2.5% during the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after acquiring an additional 261 shares during the period. Finally, CX Institutional raised its position in shares of Truist Financial by 3.4% in the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 263 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

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.