Truist Financial Co. (NYSE:TFC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Truist Financial Co. (NYSE:TFC) have received an average rating of “Moderate Buy” from the twenty-two analysts that are covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $46.02.

TFC has been the topic of several research reports. UBS Group upped their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their price target for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Finally, Argus upped their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd.

Truist Financial Price Performance

NYSE:TFC opened at $43.42 on Friday. Truist Financial has a one year low of $27.01 and a one year high of $45.31. The company has a market cap of $58.15 billion, a P/E ratio of -30.36, a P/E/G ratio of 1.84 and a beta of 1.05. The firm’s fifty day moving average price is $42.76 and its two-hundred day moving average price is $40.41. 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 released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company’s quarterly revenue was down 15.9% on a year-over-year basis. Equities analysts expect that Truist Financial will post 3.58 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.79%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norden Group LLC bought a new position in shares of Truist Financial in the first quarter worth about $2,351,000. Nordea Investment Management AB raised its holdings in Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after buying an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Truist Financial in the 1st quarter valued at approximately $516,000. M&G Plc bought a new position in Truist Financial in the 2nd quarter valued at approximately $2,804,000. Finally, Dimensional Fund Advisors LP raised its holdings in Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares during the last quarter. Institutional investors 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.