Truist Financial Co. (NYSE:TFC) has been assigned an average rating of “Buy” from the twenty-five research firms that are presently covering the company, Marketbeat reports. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $44.55.
Several equities analysts recently issued reports on TFC shares. TheStreet raised Truist Financial from a “c+” rating to a “b-” rating in a research report on Thursday, October 8th. Argus upped their price objective on Truist Financial from $45.00 to $48.00 in a research report on Friday, October 16th. Morgan Stanley upped their price objective on Truist Financial from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, October 16th. Raymond James upped their price objective on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, September 18th. Finally, Zacks Investment Research raised Truist Financial from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a research report on Friday, August 21st.
Shares of TFC opened at $48.50 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average price is $44.50 and its 200-day moving average price is $39.43. Truist Financial has a 52 week low of $24.01 and a 52 week high of $56.92. The stock has a market cap of $65.38 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.43 and a beta of 1.40.
Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 15th. The insurance provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 85.1% compared to the same quarter last year. On average, equities analysts anticipate that Truist Financial will post 3.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a $0.45 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.80 annualized dividend and a dividend yield of 3.71%. Truist Financial’s dividend payout ratio (DPR) is 41.19%.
In other news, Director K. David Jr. Boyer sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $36.50, for a total value of $54,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kimberly Moore-Wright sold 1,398 shares of the company’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $44.09, for a total value of $61,637.82. The disclosure for this sale can be found here. Insiders sold a total of 5,355 shares of company stock valued at $228,825 over the last 90 days. 0.35% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Truist Financial by 0.7% in the 3rd quarter. State Street Corp now owns 57,574,299 shares of the insurance provider’s stock worth $2,190,702,000 after purchasing an additional 381,648 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Truist Financial by 37.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 48,473,224 shares of the insurance provider’s stock worth $1,793,995,000 after buying an additional 13,312,350 shares during the period. Bank of America Corp DE boosted its holdings in Truist Financial by 7.4% in the 2nd quarter. Bank of America Corp DE now owns 40,057,338 shares of the insurance provider’s stock worth $1,504,153,000 after buying an additional 2,771,230 shares during the period. Macquarie Group Ltd. boosted its holdings in Truist Financial by 4.6% in the 2nd quarter. Macquarie Group Ltd. now owns 17,790,167 shares of the insurance provider’s stock worth $668,020,000 after buying an additional 785,323 shares during the period. Finally, Boston Partners boosted its holdings in Truist Financial by 7.7% in the 3rd quarter. Boston Partners now owns 16,542,627 shares of the insurance provider’s stock worth $629,446,000 after buying an additional 1,187,986 shares during the period. Hedge funds and other institutional investors own 73.36% of the company’s stock.
Truist Financial Company Profile
Truist Financial Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals 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.
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