Truist Financial (NYSE:TFC) Sets New 12-Month High at $39.38

Shares of Truist Financial Co. (NYSE:TFC) reached a new 52-week high during trading on Monday . The company traded as high as $39.38 and last traded at $39.22, with a volume of 593168 shares traded. The stock had previously closed at $38.85.

Analysts Set New Price Targets

Several research firms recently weighed in on TFC. UBS Group upped their price target on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Jefferies Financial Group raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.88.

Truist Financial Trading Down 0.8 %

The company has a 50 day moving average price of $37.34 and a 200 day moving average price of $35.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $52.20 billion, a price-to-earnings ratio of -29.63, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, research analysts expect that Truist Financial Co. will post 3.3 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued 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 5.32%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction 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 sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Truist Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in shares of Truist Financial in the 3rd quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Truist Financial during the first quarter worth approximately $29,000. Operose Advisors LLC purchased a new stake in shares of Truist Financial during the 3rd quarter worth approximately $31,000. Missouri Trust & Investment Co boosted its holdings in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares in the last quarter. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

About Truist Financial

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.