Truist Financial (NYSE:TFC) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Truist Financial (NYSE:TFC) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

TFC has been the subject of several other research reports. The Goldman Sachs Group increased their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Stephens reiterated an “overweight” rating and issued a $54.00 price target on shares of Truist Financial in a research note on Thursday, January 2nd. Barclays boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday. Compass Point increased their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Truist Financial Stock Down 0.1 %

TFC stock opened at $43.93 on Tuesday. The company has a market cap of $58.32 billion, a PE ratio of -30.72, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial has a 52 week low of $34.23 and a 52 week high of $49.06. The business has a 50-day simple moving average of $45.36 and a 200 day simple moving average of $43.26.

Truist Financial (NYSE:TFC) last issued 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 company 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%. Sell-side analysts anticipate that Truist Financial will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TFC. Fulton Bank N.A. lifted its position in Truist Financial by 3.0% in the 4th quarter. Fulton Bank N.A. now owns 61,183 shares of the insurance provider’s stock valued at $2,654,000 after acquiring an additional 1,771 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Truist Financial in the fourth quarter worth approximately $1,184,000. Bangor Savings Bank lifted its holdings in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Neville Rodie & Shaw Inc. boosted its position in shares of Truist Financial by 17.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 37,468 shares of the insurance provider’s stock valued at $1,626,000 after buying an additional 5,695 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in Truist Financial by 9.5% during the fourth quarter. CWA Asset Management Group LLC now owns 49,000 shares of the insurance provider’s stock worth $2,126,000 after buying an additional 4,267 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.