Truist Financial (NYSE:TFC) Price Target Lowered to $44.00 at Citigroup

Truist Financial (NYSE:TFC) had its price objective trimmed by Citigroup from $51.00 to $44.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

A number of other equities research analysts also recently commented on the stock. Morgan Stanley lifted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Piper Sandler lifted their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Up 1.8 %

Shares of Truist Financial stock opened at $42.17 on Monday. Truist Financial has a 52-week low of $35.09 and a 52-week high of $49.06. The company has a 50-day simple moving average of $45.10 and a two-hundred day simple moving average of $44.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $55.04 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. Truist Financial’s revenue was up 3.4% on a year-over-year basis. On average, analysts anticipate that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.93%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Hedge Funds Weigh In On Truist Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Chancellor Financial Group WB LP acquired a new stake in shares of Truist Financial in the 4th quarter worth $329,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Truist Financial by 73.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 853,013 shares of the insurance provider’s stock worth $37,004,000 after acquiring an additional 360,227 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Truist Financial during the fourth quarter worth about $446,000. Anchor Pointe Wealth Management LLC purchased a new stake in Truist Financial during the 4th quarter worth approximately $215,000. Finally, Aegis Wealth Management LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at $316,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

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.