Truist Financial Co. (NYSE:TFC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Truist Financial Co. (NYSE:TFC) have been given a consensus rating of “Moderate Buy” by the twenty-two ratings firms that are covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $48.12.

TFC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. UBS Group boosted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Compass Point raised their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company boosted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th.

Insider Buying and Selling at Truist Financial

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

Institutional Investors Weigh In On Truist Financial

A number of institutional investors and hedge funds have recently bought and sold shares of TFC. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the 3rd quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the third quarter worth $32,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial during the second quarter valued at about $31,000. Finally, Fortitude Family Office LLC lifted its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $45.78 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average of $45.04 and a 200-day moving average of $42.26. Truist Financial has a one year low of $34.23 and a one year high of $49.06. The company has a market cap of $60.77 billion, a P/E ratio of -32.01, a P/E/G ratio of 1.87 and a beta of 1.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Equities research analysts forecast that Truist Financial will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.54%. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

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.