Truist Financial (NYSE:TFC) Rating Increased to Peer Perform at Wolfe Research

Wolfe Research upgraded shares of Truist Financial (NYSE:TFC) from an underperform rating to a peer perform rating in a research note released on Friday morning, Marketbeat reports.

Other equities research analysts also recently issued reports about the company. Stephens lifted their price objective on Truist Financial from $43.00 to $47.00 and gave the company an overweight rating in a report on Thursday, May 16th. StockNews.com downgraded Truist Financial from a hold rating to a sell rating in a report on Tuesday, July 23rd. Robert W. Baird downgraded Truist Financial from an outperform rating to a neutral rating and set a $45.00 price objective on the stock. in a report on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on Truist Financial from $42.00 to $45.00 and gave the company an outperform rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley boosted their target price on Truist Financial from $46.00 to $51.00 and gave the stock an equal weight rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of Hold and a consensus target price of $45.30.

Truist Financial Trading Down 0.8 %

Shares of TFC opened at $41.22 on Friday. Truist Financial has a 12-month low of $26.57 and a 12-month high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $55.16 billion, a price-to-earnings ratio of -31.23, a P/E/G ratio of 1.95 and a beta of 1.06. The stock’s 50-day moving average price is $39.78 and its 200 day moving average price is $38.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, research analysts predict that Truist Financial will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

A number of large investors have recently made changes to their positions in TFC. Crewe Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial in the 1st quarter worth $29,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the 2nd quarter worth $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the 2nd quarter worth $31,000. Finally, Missouri Trust & Investment Co boosted its stake in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. 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.