Truist Financial Corporation (NYSE:TFC) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Truist Financial Corporation (NYSE:TFC) have earned an average recommendation of “Hold” from the eighteen research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $55.44.

A number of brokerages recently weighed in on TFC. HSBC started coverage on shares of Truist Financial in a report on Monday. They issued a “buy” rating and a $61.00 price target for the company. Robert W. Baird upped their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted their target price on Truist Financial from $53.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 29th. Finally, Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO Michael P. Lyons acquired 21,000 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were acquired at an average cost of $48.36 per share, for a total transaction of $1,015,560.00. Following the completion of the acquisition, the chief executive officer directly owned 21,000 shares of the company’s stock, valued at approximately $1,015,560. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dontá Wilson sold 13,280 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the transaction, the insider directly owned 56,009 shares in the company, valued at approximately $2,904,066.65. The trade was a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC bought a new stake in Truist Financial in the second quarter valued at about $30,000. Navigoe LLC bought a new position in Truist Financial during the second quarter worth about $30,000. Evolution Wealth Management Inc. increased its stake in shares of Truist Financial by 2,218.2% in the 1st quarter. Evolution Wealth Management Inc. now owns 765 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 732 shares during the last quarter. Wilkerson Advisory Group LLC increased its stake in shares of Truist Financial by 104.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 421 shares during the last quarter. Finally, SHP Wealth Management acquired a new stake in shares of Truist Financial in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.1%

Shares of NYSE TFC opened at $46.27 on Friday. Truist Financial has a 12-month low of $40.78 and a 12-month high of $56.19. The firm’s 50-day simple moving average is $50.51 and its 200 day simple moving average is $49.52. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The company has a market cap of $56.52 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter last year, the company posted $0.91 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Truist Financial will post 4.62 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, August 14th. Truist Financial’s payout ratio is currently 47.71%.

Truist Financial Company Profile

Truist Financial Corporation (NYSE:TFC) is a financial services company headquartered in Charlotte, North Carolina. Through its principal banking subsidiary, Truist Bank, the company provides a broad range of financial products and services to consumers, small businesses, commercial clients, and institutional customers.

Its offerings include deposit accounts, consumer and small-business lending, mortgages, credit cards, payments, treasury management, commercial and corporate banking, investment banking, wealth management, and asset management.