Truist Financial (NYSE:TFC) Stock Rating Upgraded by Compass Point

Compass Point upgraded shares of Truist Financial (NYSE:TFC) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $42.00 price objective on the insurance provider’s stock, up from their previous price objective of $34.00.

Several other equities research analysts have also commented on TFC. Stephens raised shares of Truist Financial from an equal weight rating to an overweight rating and upped their price target for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. Barclays upped their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an equal weight rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $44.00 to $45.00 and gave the company an outperform rating in a research report on Friday, April 5th. Royal Bank of Canada increased their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an outperform rating in a report on Friday, January 19th. Finally, Piper Sandler increased their target price on shares of Truist Financial from $37.00 to $38.00 and gave the stock a neutral rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $41.97.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $37.98 on Tuesday. Truist Financial has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day simple moving average of $36.86 and a two-hundred day simple moving average of $34.75.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts forecast that Truist Financial will post 3.27 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.48%. Truist Financial’s payout ratio is -157.58%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TFC. OFI Invest Asset Management bought a new position in Truist Financial in the 3rd quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter valued at approximately $29,000. Operose Advisors LLC bought a new position in shares of Truist Financial during the 3rd quarter valued at approximately $31,000. Missouri Trust & Investment Co boosted its position in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter valued at approximately $32,000. 71.28% of the stock is currently owned by 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.