StockNews.com Lowers Truist Financial (NYSE:TFC) to Sell

StockNews.com lowered shares of Truist Financial (NYSE:TFC) from a hold rating to a sell rating in a research report report published on Wednesday.

Other equities analysts also recently issued research reports about the company. Barclays started coverage on Truist Financial in a research note on Thursday, May 16th. They set an equal weight rating and a $43.00 price target for the company. Morgan Stanley reiterated an equal weight rating and set a $43.00 price target on shares of Truist Financial in a research note on Monday, April 22nd. Stephens lifted their price target on Truist Financial from $43.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, May 16th. Piper Sandler lifted their target price on shares of Truist Financial from $38.00 to $41.00 and gave the stock a neutral rating in a research report on Tuesday, May 14th. Finally, Citigroup lifted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Truist Financial presently has an average rating of Moderate Buy and a consensus target price of $43.17.

Truist Financial Stock Performance

Shares of TFC opened at $38.85 on Wednesday. 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 stock has a 50-day moving average of $37.89 and a 200-day moving average of $37.13. The company has a market cap of $51.99 billion, a PE ratio of -29.43, a P/E/G ratio of 1.94 and a beta of 1.06. Truist Financial has a one year low of $26.57 and a one year high of $40.51.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. On average, equities research analysts predict that Truist Financial will post 3.36 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.35%. Truist Financial’s payout ratio is -157.58%.

Institutional Investors Weigh In On Truist Financial

Several institutional investors have recently made changes to their positions in the stock. Abich Financial Wealth Management LLC lifted its position in shares of Truist Financial by 47.4% during the first quarter. Abich Financial Wealth Management LLC now owns 3,700 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 1,189 shares in the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Truist Financial by 8.7% during the first quarter. Cape Investment Advisory Inc. now owns 5,372 shares of the insurance provider’s stock worth $209,000 after acquiring an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Truist Financial by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 6,933 shares of the insurance provider’s stock worth $260,000 after acquiring an additional 472 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Truist Financial in the first quarter worth $1,877,000. Finally, Cetera Advisors LLC raised its position in shares of Truist Financial by 61.7% in the first quarter. Cetera Advisors LLC now owns 99,857 shares of the insurance provider’s stock worth $3,892,000 after buying an additional 38,087 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.