Morgan Stanley Issues Pessimistic Forecast for Truist Financial (NYSE:TFC) Stock Price

Truist Financial (NYSE:TFC) had its price target lowered by Morgan Stanley from $50.00 to $43.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Several other research analysts have also commented on the stock. Compass Point increased their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $49.74.

Truist Financial Trading Up 0.9 %

NYSE TFC opened at $35.11 on Monday. The company has a market capitalization of $45.83 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. Truist Financial has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $43.72 and its 200-day simple moving average is $44.28.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.92%. Truist Financial’s dividend payout ratio is currently 62.46%.

Hedge Funds Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in Truist Financial by 7.5% during the third quarter. Janus Henderson Group PLC now owns 176,817 shares of the insurance provider’s stock worth $7,558,000 after purchasing an additional 12,400 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Truist Financial by 25.2% in the 3rd quarter. Quantinno Capital Management LP now owns 72,647 shares of the insurance provider’s stock worth $3,107,000 after buying an additional 14,645 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Truist Financial by 1.4% during the 3rd quarter. Wellington Management Group LLP now owns 267,463 shares of the insurance provider’s stock worth $11,439,000 after buying an additional 3,796 shares during the period. EP Wealth Advisors LLC boosted its stake in Truist Financial by 61.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,419 shares of the insurance provider’s stock valued at $617,000 after buying an additional 5,505 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its position in Truist Financial by 220.2% in the third quarter. iA Global Asset Management Inc. now owns 48,197 shares of the insurance provider’s stock valued at $2,061,000 after acquiring an additional 33,145 shares during the period. 71.28% of the stock is 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.