Truist Financial (NYSE:TFC) Given New $44.00 Price Target at Citigroup

Truist Financial (NYSE:TFC) had its target price decreased by Citigroup from $51.00 to $44.00 in a research report sent to investors on Monday,Benzinga reports. Citigroup currently has a neutral rating on the insurance provider’s stock.

TFC has been the topic of a number of other research reports. Piper Sandler lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Raymond James boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley increased their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Price Performance

Shares of TFC opened at $42.17 on Monday. The business’s 50-day moving average is $45.10 and its two-hundred day moving average is $44.45. The company has a market capitalization of $55.04 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. Research analysts predict that Truist Financial will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Institutional Investors Weigh In On Truist Financial

Hedge funds have recently bought and sold shares of the stock. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the 4th quarter worth approximately $26,000. Navigoe LLC purchased a new stake in shares of Truist Financial in the 4th quarter valued at approximately $26,000. Curio Wealth LLC purchased a new position in Truist Financial in the fourth quarter valued at $45,000. Finally, True Wealth Design LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

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.