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

Truist Financial Co. (NYSE:TFC) has been given a consensus recommendation of “Moderate Buy” by the twenty research firms that are covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $49.89.

TFC has been the subject of a number of recent research reports. Citigroup increased their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Compass Point boosted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday. Stephens reissued an “overweight” rating and issued a $54.00 target price on shares of Truist Financial in a report on Thursday, January 2nd. Finally, Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s 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 completion of the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after buying an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC boosted its position in Truist Financial by 1.7% during the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after purchasing an additional 456,412 shares during the last quarter. Legal & General Group Plc increased its position in shares of Truist Financial by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after purchasing an additional 103,565 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Truist Financial by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after purchasing an additional 288,306 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 0.3 %

Shares of TFC stock opened at $43.96 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a market cap of $58.36 billion, a PE ratio of -30.74, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The stock has a 50 day moving average of $45.33 and a 200-day moving average of $43.25. 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 firm 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%. On average, equities analysts predict that Truist Financial will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Truist Financial Company Profile

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.