Truist Financial Corporation (NYSE:TFC) Receives Average Rating of “Hold” from Brokerages

Truist Financial Corporation (NYSE:TFC) has earned an average rating of “Hold” from the eighteen research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $54.6667.

TFC has been the subject of several research reports. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Robert W. Baird boosted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, July 29th. Stephens reduced their price objective on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Finally, Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th.

Truist Financial Trading Up 0.7%

Truist Financial stock opened at $52.67 on Thursday. The business has a 50 day moving average price of $50.98 and a two-hundred day moving average price of $49.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial has a 12 month low of $40.78 and a 12 month high of $56.19. The stock has a market cap of $64.34 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.15. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.Truist Financial’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. As a group, equities analysts forecast that Truist Financial will post 4.59 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,986 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the sale, the director directly owned 10,270 shares in the company, valued at approximately $520,689. This represents a 27.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Truist Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock worth $5,892,453,000 after purchasing an additional 701,049 shares during the last quarter. Capital International Investors lifted its holdings in Truist Financial by 0.7% during the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock valued at $5,332,835,000 after purchasing an additional 715,433 shares during the last quarter. BlackRock Inc. bought a new position in Truist Financial during the 2nd quarter valued at about $4,959,834,000. Victory Capital Management Inc. boosted its position in Truist Financial by 7.5% in the fourth quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock valued at $1,572,968,000 after buying an additional 2,226,288 shares in the last quarter. Finally, Morgan Stanley boosted its position in Truist Financial by 2.9% in the fourth quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock valued at $1,030,028,000 after buying an additional 597,255 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.