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

Truist Financial Corporation (NYSE:TFC) has been given a consensus rating of “Hold” by the fifteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $54.20.

Several research analysts have commented on the company. Argus raised their target price on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup increased their price objective on Truist Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 31st. Raymond James Financial boosted their target price on Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Robert W. Baird cut Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Finally, Morgan Stanley lifted their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of Truist Financial 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 owned 10,153 shares of the company’s stock, valued at $471,606.85. The trade was a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Truist Financial

Large investors have recently modified their holdings of the company. Aspect Partners LLC grew its position in Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 268 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at $28,000. Princeton Global Asset Management LLC bought a new position in shares of Truist Financial during the 2nd quarter valued at $30,000. Capital A Wealth Management LLC grew its holdings in shares of Truist Financial by 1,189.5% during the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 678 shares during the last quarter. Finally, Darwin Wealth Management LLC raised its position in Truist Financial by 631.6% in the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 600 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 1.5%

Truist Financial stock opened at $49.57 on Friday. The firm has a 50 day simple moving average of $48.75 and a 200 day simple moving average of $46.18. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial has a 1-year low of $33.56 and a 1-year high of $51.51. The firm has a market capitalization of $63.41 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 0.84 and a beta of 0.89.

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

Truist Financial Announces Dividend

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 dividend of $0.52 per share. The ex-dividend date was Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial’s payout ratio is presently 54.59%.

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

About Truist Financial

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.