Truist Financial Corporation (NYSE:TFC) Receives $55.12 Average Price Target from Analysts

Shares of Truist Financial Corporation (NYSE:TFC) have been given an average recommendation of “Hold” by the seventeen ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $55.1176.

A number of brokerages have recently commented on TFC. Robert W. Baird boosted their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Morgan Stanley reiterated an “equal weight” rating and set a $54.00 price target (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. UBS Group downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Finally, Stephens reduced their price objective on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st.

Insider Buying and Selling at Truist Financial

In other news, insider Donta L. Wilson sold 13,280 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the sale, the insider owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. This trade represents a 19.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director K. Boyer, Jr. sold 3,986 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the transaction, the director directly owned 10,270 shares of the company’s stock, valued at $520,689. This trade represents a 27.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,516 shares of company stock worth $1,584,428 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. 3Chopt Investment Partners LLC increased its stake in Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after buying an additional 193 shares during the period. IFP Advisors Inc grew its stake in shares of Truist Financial by 2.4% in the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after acquiring an additional 194 shares in the last quarter. PCB Capital LLC increased its position in shares of Truist Financial by 3.0% during the first quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after acquiring an additional 198 shares during the period. AlphaCore Capital LLC raised its stake in shares of Truist Financial by 8.3% in the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after acquiring an additional 199 shares in the last quarter. Finally, CYBER HORNET ETFs LLC raised its stake in shares of Truist Financial by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 199 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Up 0.1%

NYSE:TFC opened at $51.68 on Monday. Truist Financial has a 12-month low of $40.78 and a 12-month high of $56.19. The firm has a market cap of $63.13 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.09 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The stock has a fifty day moving average price of $51.55 and a 200 day moving average price of $49.56.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results 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 the consensus estimate 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 was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. Sell-side analysts anticipate that Truist Financial will post 4.58 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a $0.52 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Truist Financial Company Profile

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.