Truist Financial’s (TFC) Overweight Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Truist Financial (NYSE:TFC) in a research report report published on Thursday,Benzinga reports. The firm currently has a $54.00 target price on the insurance provider’s stock.

TFC has been the topic of several other research reports. Compass Point raised their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Piper Sandler boosted their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Twelve 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.com, Truist Financial has a consensus rating of “Hold” and a consensus price target of $48.74.

Truist Financial Stock Down 0.1 %

TFC stock opened at $43.33 on Thursday. The firm has a market cap of $57.52 billion, a PE ratio of -30.30, a P/E/G ratio of 1.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $45.27 and a 200 day simple moving average of $43.00. Truist Financial has a 12 month low of $34.23 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion for 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%. Equities research analysts forecast that Truist Financial will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.80%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently made changes to their positions in TFC. Valley Wealth Managers Inc. acquired a new position in Truist Financial during the third quarter valued at approximately $26,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial during the 2nd quarter worth $31,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial during the 3rd quarter worth $32,000. Fortitude Family Office LLC boosted its stake in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial in the third quarter valued at about $45,000. Institutional investors own 71.28% of the company’s stock.

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.