Truist Financial (NYSE:TFC) Reaches New 1-Year High at $40.67

Truist Financial Co. (NYSE:TFC) hit a new 52-week high on Friday . The stock traded as high as $40.67 and last traded at $40.60, with a volume of 711945 shares traded. The stock had previously closed at $40.39.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. UBS Group increased their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Barclays assumed coverage on Truist Financial in a research note on Thursday, May 16th. They set an “equal weight” rating and a $43.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Price Performance

The firm has a market cap of $54.35 billion, a P/E ratio of -30.80, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. The stock’s 50-day moving average is $38.04 and its 200-day moving average is $37.31. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data 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 business 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 business earned $1.09 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities analysts anticipate that Truist Financial Co. will post 3.37 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 5.12%. Truist Financial’s payout ratio is -157.58%.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFC. Crewe Advisors LLC bought a new position in Truist Financial in the 1st quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth $29,000. Missouri Trust & Investment Co boosted its position in 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 during the last quarter. Rise Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at $32,000. Finally, Morton Brown Family Wealth LLC raised its position in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

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.