Brokerages Set Truist Financial Corporation (NYSE:TFC) PT at $55.60

Truist Financial Corporation (NYSE:TFC) has been assigned an average recommendation of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $56.4667.

A number of analysts have recently weighed in on TFC shares. Argus increased their price objective on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Raymond James Financial upped their price target on shares of Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Robert W. Baird cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Insider Activity at Truist Financial

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the transaction, the chief accounting officer directly owned 667 shares in the company, valued at approximately $35,010.83. This represents a 83.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the completion of the sale, the director directly owned 10,153 shares of the company’s stock, valued at approximately $471,606.85. This represents a 33.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,660 shares of company stock worth $1,075,087 over the last quarter. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

Institutional investors have recently bought and sold shares of the stock. 3Chopt Investment Partners LLC lifted its stake in shares of Truist Financial by 1.3% in the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after purchasing an additional 193 shares during the period. IFP Advisors Inc raised its holdings in Truist Financial by 2.4% in the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 194 shares in the last quarter. AlphaCore Capital LLC lifted its position in Truist Financial by 8.3% during the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after buying an additional 199 shares during the period. CYBER HORNET ETFs LLC boosted its holdings in shares of Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after buying an additional 199 shares in the last quarter. Finally, Mindset Wealth Management LLC grew its position in shares of Truist Financial by 0.6% in the 4th quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock worth $1,706,000 after buying an additional 201 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Truist Financial stock opened at $52.81 on Thursday. The firm has a fifty day simple moving average of $51.10 and a two-hundred day simple moving average of $47.19. Truist Financial has a twelve month low of $33.56 and a twelve month high of $56.19. The company has a market capitalization of $67.56 billion, a PE ratio of 13.86, a P/E/G ratio of 0.88 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last released its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the firm posted $0.91 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Research analysts expect that Truist Financial will post 4 EPS for the current year.

Truist Financial announced that its Board of Directors has authorized a share buyback program on Tuesday, December 16th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 15.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 3.9%. Truist Financial’s dividend payout ratio (DPR) is 54.59%.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.