Truist Financial (NYSE:TFC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Truist Financial (NYSE:TFC) from a sell rating to a hold rating in a research note released on Thursday.

A number of other brokerages also recently commented on TFC. Royal Bank of Canada upped their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the company a neutral rating in a research report on Wednesday, May 1st. TheStreet cut Truist Financial from a b- rating to a c rating in a research report on Tuesday, February 20th. Raymond James lifted their price target on Truist Financial from $34.00 to $41.00 and gave the company an outperform rating in a research note on Friday, January 5th. Finally, Piper Sandler increased their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, January 19th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $41.88.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $38.85 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial has a 12 month low of $25.56 and a 12 month high of $39.29. The firm has a market capitalization of $51.85 billion, a P/E ratio of -29.43, a P/E/G ratio of 2.03 and a beta of 1.07. The company’s fifty day moving average price is $37.16 and its 200 day moving average price is $35.22.

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 the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. As a group, sell-side analysts predict that Truist Financial will post 3.3 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its position in Truist Financial by 4.0% in the third quarter. Commonwealth Equity Services LLC now owns 725,595 shares of the insurance provider’s stock valued at $20,759,000 after purchasing an additional 27,627 shares during the period. SVB Wealth LLC raised its stake in shares of Truist Financial by 84.2% during the third quarter. SVB Wealth LLC now owns 21,161 shares of the insurance provider’s stock valued at $605,000 after purchasing an additional 9,673 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Truist Financial by 10.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 344,777 shares of the insurance provider’s stock worth $9,864,000 after purchasing an additional 33,405 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Truist Financial by 10.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 348,299 shares of the insurance provider’s stock valued at $9,965,000 after purchasing an additional 33,362 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Truist Financial by 4.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 764,736 shares of the insurance provider’s stock worth $21,879,000 after buying an additional 33,260 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

About Truist Financial

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.