Truist Financial Co. (NYSE:TFC) Given Average Rating of “Moderate Buy” by Brokerages

Truist Financial Co. (NYSE:TFC) has earned an average rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $46.57.

A number of research firms have recently commented on TFC. Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. Citigroup increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company increased their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th.

Truist Financial Trading Up 0.3 %

TFC opened at $48.12 on Tuesday. Truist Financial has a twelve month low of $31.23 and a twelve month high of $49.06. The company has a 50-day simple moving average of $43.80 and a 200 day simple moving average of $41.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $63.88 billion, a price-to-earnings ratio of -33.65, a P/E/G ratio of 1.97 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts predict that Truist Financial will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFC. Valley Wealth Managers Inc. acquired a new stake in Truist Financial during the 3rd quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial during the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial during the 2nd quarter worth approximately $31,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds 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.