Truist Financial Corporation (NYSE:TFC) Given Average Recommendation of “Hold” by Analysts

Truist Financial Corporation (NYSE:TFC) has received a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $54.4722.

TFC has been the topic of several research analyst reports. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. UBS Group downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, May 1st. Finally, Bank of America reiterated a “neutral” rating and issued a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research note on Wednesday.

Truist Financial Stock Up 0.7%

Shares of Truist Financial stock traded up $0.34 during midday trading on Friday, hitting $51.71. The company’s stock had a trading volume of 6,037,025 shares, compared to its average volume of 10,161,204. Truist Financial has a 1-year low of $40.78 and a 1-year high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $64.43 billion, a P/E ratio of 12.83, a PEG ratio of 0.91 and a beta of 0.89. The stock has a 50-day simple moving average of $49.18 and a 200-day simple moving average of $49.44.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.Truist Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. As a group, sell-side analysts expect that Truist Financial will post 4.51 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is currently 51.61%.

Institutional Trading of Truist Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Truist Financial in the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in shares of Truist Financial during the 4th quarter worth about $26,000. McMillan Office Inc. purchased a new stake in shares of Truist Financial during the 4th quarter worth about $31,000. Maseco LLP lifted its holdings in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

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.