Shares of Truist Financial Corporation (NYSE:TFC) have been assigned an average rating of “Buy” from the twenty-four analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $45.44.
Several brokerages have recently commented on TFC. Compass Point lifted their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. BMO Capital Markets boosted their target price on shares of Truist Financial from $42.00 to $47.00 in a research note on Friday, July 17th. Royal Bank of Canada reissued a “buy” rating on shares of Truist Financial in a report on Monday, July 6th. Piper Sandler raised shares of Truist Financial from a “neutral” rating to an “overweight” rating and set a $41.00 price target for the company in a report on Tuesday, April 21st. Finally, Raymond James raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Wednesday, June 17th.
TFC opened at $37.46 on Tuesday. The company has a market capitalization of $50.48 billion, a P/E ratio of 9.65, a PEG ratio of 1.37 and a beta of 1.45. The company has a 50-day moving average of $37.31 and a 200-day moving average of $40.36. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.93 and a current ratio of 0.95. Truist Financial has a 1-year low of $24.01 and a 1-year high of $56.92.
Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, July 16th. The insurance provider reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.18. Truist Financial had a return on equity of 8.07% and a net margin of 17.32%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the firm earned $1.09 earnings per share. As a group, sell-side analysts expect that Truist Financial will post 3.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.80 annualized dividend and a dividend yield of 4.81%. Truist Financial’s dividend payout ratio is 41.19%.
In related news, VP Brantley J. Standridge sold 4,800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $31.82, for a total transaction of $152,736.00. Following the transaction, the vice president now owns 14,010 shares of the company’s stock, valued at $445,798.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nido R. Qubein bought 10,000 shares of Truist Financial stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $37.98 per share, with a total value of $379,800.00. Following the completion of the purchase, the director now directly owns 65,325 shares of the company’s stock, valued at $2,481,043.50. The disclosure for this purchase can be found here. Insiders sold 101,087 shares of company stock worth $3,639,169 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.
Large investors have recently modified their holdings of the stock. FMR LLC raised its holdings in Truist Financial by 7.3% during the first quarter. FMR LLC now owns 349,974 shares of the insurance provider’s stock valued at $16,284,000 after buying an additional 23,680 shares in the last quarter. Vigilare Wealth Management bought a new stake in shares of Truist Financial during the 4th quarter worth $387,000. Guggenheim Capital LLC acquired a new position in Truist Financial in the 4th quarter valued at $17,922,000. Cubist Systematic Strategies LLC acquired a new position in Truist Financial during the 4th quarter worth $1,220,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $21,347,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.
Truist Financial Company Profile
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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