Truist Financial Co. (NYSE:TFC) Receives Average Rating of “Hold” from Analysts

Shares of Truist Financial Co. (NYSE:TFC) have been assigned an average recommendation of “Hold” from the twenty-one brokerages that are presently covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $48.53.

A number of brokerages have recently weighed in on TFC. Royal Bank of Canada upped their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. UBS Group increased their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Compass Point boosted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Citigroup raised 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, November 25th. Finally, Stephens reaffirmed an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the 3rd quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial in the second quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial during the second quarter valued at approximately $31,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC boosted its stake in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Down 4.5 %

NYSE TFC opened at $43.11 on Friday. The company’s fifty day moving average price is $45.24 and its two-hundred day moving average price is $42.49. The company has a market capitalization of $57.23 billion, a price-to-earnings ratio of -30.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. Truist Financial has a 12 month low of $34.23 and a 12 month high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

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

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

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.