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

Stephens reiterated their overweight rating on shares of Truist Financial (NYSE:TFC) in a research note released on Thursday morning,Benzinga reports. Stephens currently has a $54.00 target price on the insurance provider’s stock.

A number of other research firms have also recently issued reports on TFC. Citigroup raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group increased their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.74.

Truist Financial Price Performance

NYSE:TFC opened at $44.10 on Thursday. Truist Financial has a 1-year low of $34.23 and a 1-year high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $45.30 and a 200 day simple moving average of $43.05. The stock has a market capitalization of $58.54 billion, a PE ratio of -30.84, a P/E/G ratio of 1.88 and a beta of 1.06.

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

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Truist Financial

A number of large investors have recently made changes to their positions in TFC. Van ECK Associates Corp raised its stake in shares of Truist Financial by 255.7% in the second quarter. Van ECK Associates Corp now owns 84,016 shares of the insurance provider’s stock worth $3,264,000 after buying an additional 60,395 shares during the period. Farther Finance Advisors LLC increased its position in shares of Truist Financial by 165.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 9,488 shares of the insurance provider’s stock valued at $372,000 after purchasing an additional 5,912 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Truist Financial by 17.9% in the second quarter. Natixis Advisors LLC now owns 420,950 shares of the insurance provider’s stock valued at $16,354,000 after acquiring an additional 64,001 shares during the period. Oregon Public Employees Retirement Fund raised its position in Truist Financial by 0.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 114,915 shares of the insurance provider’s stock worth $4,464,000 after purchasing an additional 918 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Truist Financial by 22.8% during the 2nd quarter. Larson Financial Group LLC now owns 2,454 shares of the insurance provider’s stock worth $95,000 after acquiring an additional 456 shares during the last quarter. 71.28% of the stock is currently 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.