Truist Financial Corporation (NYSE:TFC) Stock Has Average Target Price of $55.12

Truist Financial Corporation (NYSE:TFC) has earned an average rating of “Hold” from the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $55.12.

A number of equities analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th.

Insider Buying and Selling

In other Truist Financial news, Director K. Boyer, Jr. sold 3,986 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total transaction of $202,090.20. Following the completion of the sale, the director directly owned 10,270 shares of the company’s stock, valued at $520,689. This represents a 27.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Lyons acquired 21,000 shares of the firm’s stock in a transaction on Thursday, September 17th. The shares were bought at an average cost of $48.36 per share, with a total value of $1,015,560.00. Following the completion of the transaction, the chief executive officer directly owned 21,000 shares in the company, valued at $1,015,560. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 30,516 shares of company stock worth $1,584,428. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Hedge funds have recently modified their holdings of the stock. Capital International Investors increased its stake in Truist Financial by 0.7% in the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock valued at $5,332,835,000 after buying an additional 715,433 shares during the period. BlackRock Inc. purchased a new stake in shares of Truist Financial in the second quarter valued at about $4,959,834,000. State Street Corp increased its stake in shares of Truist Financial by 0.9% during the second quarter. State Street Corp now owns 58,692,619 shares of the insurance provider’s stock worth $2,924,066,000 after acquiring an additional 501,026 shares during the period. Victory Capital Management Inc. increased its stake in shares of Truist Financial by 7.5% during the fourth quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after acquiring an additional 2,226,288 shares during the period. Finally, Auto Owners Insurance Co raised its holdings in Truist Financial by 4,821.0% during the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after purchasing an additional 13,884,480 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.2%

Truist Financial stock opened at $47.12 on Friday. The company has a market capitalization of $57.56 billion, a P/E ratio of 10.81, a PEG ratio of 1.00 and a beta of 0.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The stock has a 50-day simple moving average of $50.98 and a 200-day simple moving average of $49.47.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Truist Financial will post 4.61 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, August 14th. Truist Financial’s payout ratio is 47.71%.

Truist Financial Company Profile

Truist Financial Corporation (NYSE:TFC) is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.

Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.