Truist Financial Corporation (NYSE:TFC) Given Average Rating of “Moderate Buy” by Brokerages

Truist Financial Corporation (NYSE:TFC) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $55.5938.

A number of research analysts have recently commented on TFC shares. Argus increased their price objective on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Royal Bank Of Canada increased their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. JPMorgan Chase & Co. lowered their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Piper Sandler raised their target price on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $49.48 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $61.40 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.87 and a beta of 0.92. The business’s 50-day simple moving average is $48.10 and its 200-day simple moving average is $48.31. Truist Financial has a 52 week low of $38.27 and a 52 week high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business 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%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 EPS. As a group, equities research analysts expect that Truist Financial will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Institutional Trading of Truist Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TFC. Kemnay Advisory Services Inc. acquired a new stake in Truist Financial in the 4th quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in Truist Financial in the 4th quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the 3rd quarter valued at approximately $28,000. McMillan Office Inc. acquired a new stake in Truist Financial in the 4th quarter valued at approximately $31,000. Finally, Maseco LLP grew its holdings in Truist Financial by 53.8% in 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. Institutional investors and hedge funds own 71.28% of the company’s stock.

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.