Truist Financial (NYSE:TFC) Lifted to “Buy” at Compass Point

Compass Point upgraded shares of Truist Financial (NYSE:TFC) from a neutral rating to a buy rating in a research report released on Tuesday, Marketbeat reports. Compass Point currently has $42.00 price objective on the insurance provider’s stock, up from their previous price objective of $34.00.

TFC has been the subject of a number of other research reports. Barclays increased their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, April 5th. Morgan Stanley reiterated an equal weight rating and set a $43.00 target price on shares of Truist Financial in a research report on Monday. Bank of America upgraded shares of Truist Financial from a neutral rating to a buy rating and set a $43.00 target price for the company in a research report on Thursday, January 4th. Finally, Royal Bank of Canada increased their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an outperform rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $41.97.

Truist Financial Stock Performance

NYSE TFC opened at $37.98 on Tuesday. Truist Financial has a 52-week low of $25.56 and a 52-week high of $39.29. The company has a 50-day simple moving average of $36.86 and a 200 day simple moving average of $34.75. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (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 business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts forecast that Truist Financial will post 3.27 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.48%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Truist Financial

Several hedge funds have recently bought and sold shares of the stock. Valmark Advisers Inc. lifted its position in Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 277 shares during the last quarter. Whalen Wealth Management Inc. raised its stake in shares of Truist Financial by 4.8% during the first quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock worth $247,000 after acquiring an additional 288 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Truist Financial by 19.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock worth $70,000 after acquiring an additional 290 shares in the last quarter. St. Johns Investment Management Company LLC raised its stake in shares of Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after acquiring an additional 296 shares in the last quarter. Finally, Mechanics Financial Corp raised its stake in shares of Truist Financial by 7.4% during the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after acquiring an additional 300 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

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.