Truist Financial (NYSE:TFC) Raised to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Truist Financial (NYSE:TFC) from a neutral rating to an outperform rating in a report released on Wednesday, Marketbeat reports. They currently have $52.00 price target on the insurance provider’s stock, up from their previous price target of $48.00.

Several other equities analysts also recently weighed in on TFC. Compass Point lifted their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Stephens lifted their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Performance

Shares of TFC opened at $43.11 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial has a one year low of $34.51 and a one year high of $49.06. The firm has a market capitalization of $56.27 billion, a P/E ratio of 12.94, a PEG ratio of 1.63 and a beta of 1.08. The business has a fifty day moving average of $45.79 and a 200 day moving average of $44.67.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $5.05 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Truist Financial will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.83%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Institutional Investors Weigh In On Truist Financial

Several large investors have recently made changes to their positions in TFC. Capital International Investors increased its holdings in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the last quarter. Norges Bank bought a new stake in Truist Financial during the fourth quarter worth approximately $402,828,000. FMR LLC increased its stake in Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after acquiring an additional 5,457,053 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Truist Financial during the fourth quarter worth approximately $198,051,000. Finally, State Street Corp increased its stake in Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares during 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.