Analysts Set Truist Financial Co. (NYSE:TFC) Target Price at $48.06

Truist Financial Co. (NYSE:TFC) has been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are presently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $47.83.

TFC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Piper Sandler reduced their price objective on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Raymond James cut Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Finally, Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th.

Truist Financial Stock Up 0.0%

TFC stock opened at $41.41 on Tuesday. Truist Financial has a 1-year low of $33.56 and a 1-year high of $49.06. The business has a fifty day moving average price of $38.85 and a 200-day moving average price of $43.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $54.23 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. Equities analysts forecast that Truist Financial will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is 61.36%.

Hedge Funds Weigh In On Truist Financial

Hedge funds have recently made changes to their positions in the business. Comerica Bank boosted its stake in shares of Truist Financial by 3.6% in the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider’s stock worth $19,499,000 after acquiring an additional 15,499 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 971 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Truist Financial by 81.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider’s stock worth $48,085,000 after acquiring an additional 498,531 shares during the period. Country Club Bank boosted its stake in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 39,949 shares during the period. Finally, David Wealth Management LLC bought a new position in shares of Truist Financial in the fourth quarter worth about $2,354,000. Institutional investors 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.