Brokerages Set Truist Financial Co. (NYSE:TFC) Price Target at $51.16

Shares of Truist Financial Co. (NYSE:TFC) have earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $50.79.

Several research analysts have issued reports on the company. Barclays increased their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Stephens boosted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Raymond James raised their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TFC. Bangor Savings Bank boosted its stake in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the period. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial in the 4th quarter valued at about $26,000. Navigoe LLC bought a new stake in shares of Truist Financial during the 4th quarter valued at about $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial during the fourth quarter worth about $45,000. Finally, True Wealth Design LLC bought a new position in shares of Truist Financial in the third quarter worth approximately $51,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Down 0.1 %

Truist Financial stock opened at $41.97 on Monday. The company has a market capitalization of $54.79 billion, a PE ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial has a 12-month low of $35.09 and a 12-month high of $49.06. The firm’s fifty day moving average is $45.00 and its 200 day moving average is $44.43. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, sell-side analysts predict that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

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.