Truist Financial (NYSE:TFC) Price Target Raised to $49.00

Truist Financial (NYSE:TFC) had its price target lifted by Keefe, Bruyette & Woods from $48.00 to $49.00 in a research report sent to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.

Several other brokerages have also issued reports on TFC. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Morgan Stanley increased their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Evercore ISI raised their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $50.59.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $43.60 on Monday. The company’s fifty day simple moving average is $45.10 and its two-hundred day simple moving average is $42.34. The firm has a market cap of $56.22 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial has a 12-month low of $33.56 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Truist Financial’s quarterly revenue was up 1.9% on a year-over-year basis. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts expect that Truist Financial will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.8%. Truist Financial’s dividend payout ratio is presently 55.91%.

Institutional Trading of Truist Financial

Hedge funds have recently made changes to their positions in the business. Gries Financial LLC grew its holdings in shares of Truist Financial by 4.4% during the third quarter. Gries Financial LLC now owns 5,507 shares of the insurance provider’s stock worth $252,000 after purchasing an additional 233 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in Truist Financial by 1.1% in the third quarter. Salomon & Ludwin LLC now owns 21,934 shares of the insurance provider’s stock valued at $998,000 after buying an additional 239 shares during the period. Foster Victor Wealth Advisors LLC raised its position in shares of Truist Financial by 0.4% during the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after purchasing an additional 242 shares during the period. MGO One Seven LLC raised its position in shares of Truist Financial by 0.9% during the second quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after purchasing an additional 246 shares during the period. Finally, Klingman & Associates LLC raised its position in shares of Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

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.