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

Shares of Truist Financial Co. (NYSE:TFC) have earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are covering the stock, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $46.37.

Several brokerages have issued reports on TFC. Royal Bank of Canada raised their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a 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 research note on Friday, October 18th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.79 on Tuesday. The stock’s 50-day moving average is $43.27 and its two-hundred day moving average is $41.33. The firm has a market cap of $62.11 billion, a price-to-earnings ratio of -32.72, a PEG ratio of 1.91 and a beta of 1.05. Truist Financial has a 1 year low of $31.23 and a 1 year high of $47.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

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

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. 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 4.45%. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Tradewinds LLC. increased its stake in shares of Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares in the last quarter. Capital Investment Counsel Inc grew its stake in Truist Financial by 0.4% in the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after acquiring an additional 244 shares during the period. Burkett Financial Services LLC grew its stake in Truist Financial by 26.8% in the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 253 shares during the period. Verum Partners LLC grew its stake in Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after acquiring an additional 261 shares during the period. Finally, CX Institutional grew its stake in Truist Financial by 3.4% in the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 263 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

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.