Truist Financial (NYSE:TFC) Price Target Cut to $50.00 by Analysts at Wells Fargo & Company

Truist Financial (NYSE:TFC) had its price objective lowered by Wells Fargo & Company from $52.00 to $50.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Other analysts also recently issued reports about the company. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.68.

Truist Financial Stock Performance

Shares of TFC opened at $40.46 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 52-week low of $35.09 and a 52-week high of $49.06. The stock has a 50 day moving average price of $44.78 and a 200 day moving average price of $44.40. The company has a market capitalization of $52.81 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the firm posted $0.81 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Research analysts predict that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.14%. Truist Financial’s dividend payout ratio is presently 62.46%.

Institutional Trading of Truist Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth $26,000. Navigoe LLC purchased a new stake in Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new stake in Truist Financial in the fourth quarter valued at $45,000. Finally, True Wealth Design LLC purchased a new position in shares of Truist Financial in the third quarter valued at $51,000. Hedge funds and other 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.