Truist Financial Co. (NYSE:TFC) Receives $41.88 Consensus Price Target from Analysts

Truist Financial Co. (NYSE:TFC) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $41.88.

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. UBS Group upped their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. HSBC increased their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Stephens reiterated an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $38.85 on Friday. Truist Financial has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a fifty day simple moving average of $37.16 and a two-hundred day simple moving average of $35.22. The stock has a market capitalization of $51.85 billion, a P/E ratio of -29.43, a PEG ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, analysts expect that Truist Financial will post 3.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in Truist Financial in the 1st quarter worth approximately $29,000. Rise Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth approximately $32,000. Missouri Trust & Investment Co grew its stake in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Northwest Financial Advisors acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $34,000. Finally, Morton Brown Family Wealth LLC grew its stake in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Company Profile

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.