Truist Financial Corporation (NYSE:TFC) Receives Average Recommendation of “Hold” from Analysts

Truist Financial Corporation (NYSE:TFC) has been assigned an average recommendation of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat reports. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $49.9333.

A number of equities analysts recently commented on TFC shares. Evercore ISI upped their price target on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. UBS Group set a $55.00 price target on shares of Truist Financial in a research report on Tuesday, October 21st. Morgan Stanley boosted their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. Finally, Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th.

Truist Financial Stock Down 0.3%

NYSE TFC opened at $50.61 on Wednesday. The stock has a market cap of $64.74 billion, a PE ratio of 13.60, a P/E/G ratio of 1.10 and a beta of 0.90. The business has a 50 day moving average price of $46.48 and a two-hundred day moving average price of $45.09. Truist Financial has a fifty-two week low of $33.56 and a fifty-two week high of $50.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. Truist Financial’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial declared that its board has initiated a share repurchase plan on Tuesday, December 16th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to purchase up to 15.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is currently 55.91%.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total transaction of $239,682.00. Following the transaction, the director owned 10,153 shares of the company’s stock, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Truist Financial

Hedge funds have recently modified their holdings of the company. Aprio Wealth Management LLC boosted its stake in shares of Truist Financial by 2.7% during the 3rd quarter. Aprio Wealth Management LLC now owns 8,564 shares of the insurance provider’s stock valued at $392,000 after buying an additional 226 shares during the period. Leisure Capital Management raised its holdings in shares of Truist Financial by 1.2% during the third quarter. Leisure Capital Management now owns 19,985 shares of the insurance provider’s stock worth $914,000 after acquiring an additional 230 shares in the last quarter. Smith Thornton Advisors LLC boosted its position in Truist Financial by 4.1% during the third quarter. Smith Thornton Advisors LLC now owns 5,900 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 231 shares during the last quarter. Gries Financial LLC grew its stake in Truist Financial by 4.4% in the third quarter. Gries Financial LLC now owns 5,507 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 233 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in Truist Financial by 6.8% in the third quarter. TD Waterhouse Canada Inc. now owns 3,730 shares of the insurance provider’s stock valued at $170,000 after purchasing an additional 237 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.