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

Shares of Truist Financial Co. (NYSE:TFC) have earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $46.37.

Several equities analysts recently weighed in on TFC shares. Royal Bank of Canada lifted their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Compass Point boosted their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Argus boosted their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $46.79 on Tuesday. 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 twelve month low of $31.23 and a twelve month high of $47.57. The business has a 50-day moving average price of $43.27 and a 200 day moving average price of $41.33. The firm has a market cap of $62.11 billion, a PE ratio of -32.72, a P/E/G ratio of 1.91 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Sell-side analysts predict that Truist Financial will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Institutional Trading of Truist Financial

Hedge funds have recently modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at $26,000. Crewe Advisors LLC purchased a new position in Truist Financial in the first quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the third quarter valued at $32,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial in the second quarter valued at $30,000. Finally, Y.D. More Investments Ltd purchased a new position in Truist Financial in the second quarter valued at $31,000. 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.