Truist Financial’s (TFC) Overweight Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of Truist Financial (NYSE:TFC) in a report released on Tuesday, Benzinga reports. The firm currently has a $43.00 price objective on the insurance provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an outperform rating in a research note on Friday, April 5th. StockNews.com downgraded shares of Truist Financial from a hold rating to a sell rating in a research note on Thursday, March 28th. Raymond James raised their target price on shares of Truist Financial from $34.00 to $41.00 and gave the company an outperform rating in a research note on Friday, January 5th. UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 5th. Finally, Barclays increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an equal weight rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $41.59.

Truist Financial Trading Up 2.1 %

TFC opened at $38.85 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial has a 12 month low of $25.56 and a 12 month high of $39.29. The company has a fifty day simple moving average of $36.76 and a 200 day simple moving average of $34.70.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. On average, analysts predict that Truist Financial will post 3.27 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TFC. SG Americas Securities LLC increased its stake in Truist Financial by 36.3% in the third quarter. SG Americas Securities LLC now owns 119,510 shares of the insurance provider’s stock valued at $3,419,000 after acquiring an additional 31,818 shares during the last quarter. Naples Global Advisors LLC increased its stake in Truist Financial by 40.4% in the third quarter. Naples Global Advisors LLC now owns 10,154 shares of the insurance provider’s stock valued at $291,000 after acquiring an additional 2,920 shares during the last quarter. Avior Wealth Management LLC increased its stake in Truist Financial by 62.3% in the third quarter. Avior Wealth Management LLC now owns 5,453 shares of the insurance provider’s stock valued at $156,000 after acquiring an additional 2,093 shares during the last quarter. Strategic Blueprint LLC increased its stake in Truist Financial by 16.2% in the third quarter. Strategic Blueprint LLC now owns 14,259 shares of the insurance provider’s stock valued at $408,000 after acquiring an additional 1,991 shares during the last quarter. Finally, LaFleur & Godfrey LLC boosted its position in Truist Financial by 3.3% in the third quarter. LaFleur & Godfrey LLC now owns 101,381 shares of the insurance provider’s stock valued at $2,901,000 after buying an additional 3,244 shares in the last quarter. 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.