Stephens Reaffirms Overweight Rating for Truist Financial (NYSE:TFC)

Stephens restated their overweight rating on shares of Truist Financial (NYSE:TFC) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $54.00 price target on the insurance provider’s stock.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group lifted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Piper Sandler lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.74.

Truist Financial Trading Down 0.1 %

NYSE TFC opened at $43.33 on Thursday. The company has a market cap of $57.52 billion, a price-to-earnings ratio of -30.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. Truist Financial has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $45.27 and its 200 day moving average is $43.00.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, sell-side analysts expect that Truist Financial will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.80%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its position in Truist Financial by 255.7% during the second quarter. Van ECK Associates Corp now owns 84,016 shares of the insurance provider’s stock valued at $3,264,000 after buying an additional 60,395 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Truist Financial by 165.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 9,488 shares of the insurance provider’s stock worth $372,000 after purchasing an additional 5,912 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Truist Financial by 17.9% in the 2nd quarter. Natixis Advisors LLC now owns 420,950 shares of the insurance provider’s stock worth $16,354,000 after purchasing an additional 64,001 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Truist Financial by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 114,915 shares of the insurance provider’s stock valued at $4,464,000 after purchasing an additional 918 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Truist Financial by 22.8% during the second quarter. Larson Financial Group LLC now owns 2,454 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 456 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.