Shares of Truist Financial Corporation (NYSE:TFC) have been given a consensus rating of “Buy” by the twenty-four brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $45.44.
A number of equities analysts have weighed in on the company. Wolfe Research began coverage on Truist Financial in a research report on Friday. They set an “outperform” rating for the company. BMO Capital Markets raised their target price on shares of Truist Financial from $42.00 to $47.00 in a research report on Friday, July 17th. UBS Group lifted their price target on shares of Truist Financial to $36.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Wells Fargo & Co increased their price objective on shares of Truist Financial from $40.00 to $51.00 in a research note on Friday, June 5th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Truist Financial in a research report on Monday, July 6th.
TFC stock opened at $37.46 on Tuesday. The stock has a 50-day moving average price of $37.31 and a two-hundred day moving average price of $40.36. Truist Financial has a 1 year low of $24.01 and a 1 year high of $56.92. The stock has a market cap of $50.48 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68.
Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, July 16th. The insurance provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.18. Truist Financial had a return on equity of 8.07% and a net margin of 17.32%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. On average, analysts forecast that Truist Financial will post 3.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.80 dividend on an annualized basis and a yield of 4.81%. Truist Financial’s dividend payout ratio (DPR) is 41.19%.
In other news, insider Ellen Koebler sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $31.97, for a total transaction of $319,700.00. Following the transaction, the insider now owns 16,859 shares in the company, valued at $538,982.23. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brantley J. Standridge sold 4,800 shares of Truist Financial stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $31.82, for a total value of $152,736.00. Following the sale, the vice president now directly owns 14,010 shares of the company’s stock, valued at $445,798.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,087 shares of company stock worth $3,639,169. Corporate insiders own 0.35% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TFC. CAPROCK Group Inc. boosted its position in shares of Truist Financial by 2.9% in the first quarter. CAPROCK Group Inc. now owns 10,348 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 294 shares during the period. Optimum Investment Advisors boosted its holdings in Truist Financial by 1.3% in the 1st quarter. Optimum Investment Advisors now owns 23,132 shares of the insurance provider’s stock valued at $713,000 after purchasing an additional 301 shares during the period. Thompson Investment Management Inc. grew its position in shares of Truist Financial by 1.2% during the 2nd quarter. Thompson Investment Management Inc. now owns 26,268 shares of the insurance provider’s stock worth $986,000 after purchasing an additional 315 shares in the last quarter. Piedmont Investment Advisors Inc. increased its holdings in shares of Truist Financial by 1.3% during the first quarter. Piedmont Investment Advisors Inc. now owns 25,627 shares of the insurance provider’s stock worth $790,000 after purchasing an additional 326 shares during the period. Finally, Hallmark Capital Management Inc. raised its position in shares of Truist Financial by 0.5% in the second quarter. Hallmark Capital Management Inc. now owns 60,639 shares of the insurance provider’s stock valued at $2,277,000 after buying an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 72.03% of the company’s stock.
Truist Financial Company Profile
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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