Truist Financial (NYSE:TFC) PT Raised to $45.00

Truist Financial (NYSE:TFC) had its price target lifted by Keefe, Bruyette & Woods from $44.00 to $45.00 in a report published on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Several other equities research analysts have also issued reports on TFC. HSBC lifted their price target on shares of Truist Financial from $37.00 to $39.00 and gave the company a hold rating in a research note on Thursday, March 28th. TheStreet lowered shares of Truist Financial from a b- rating to a c rating in a research note on Tuesday, February 20th. Royal Bank of Canada lifted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an outperform rating in a research note on Friday, January 19th. UBS Group boosted their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a buy rating in a research note on Friday. Finally, Morgan Stanley boosted their price objective on shares of Truist Financial from $38.00 to $43.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $41.44.

Truist Financial Trading Up 2.0 %

Shares of NYSE TFC opened at $38.86 on Friday. The company’s fifty day moving average is $36.59 and its 200-day moving average is $33.98. The stock has a market cap of $51.86 billion, a price-to-earnings ratio of -35.98, a P/E/G ratio of 1.62 and a beta of 1.08. Truist Financial has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the previous year, the firm posted $1.30 EPS. Equities research analysts predict that Truist Financial will post 3.35 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

A number of institutional investors have recently added to or reduced their stakes in TFC. Douglas Lane & Associates LLC increased its position in Truist Financial by 6.3% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock valued at $44,189,000 after acquiring an additional 91,579 shares during the period. Loudon Investment Management LLC increased its position in shares of Truist Financial by 18.5% during the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after buying an additional 20,490 shares during the period. Pathstone Family Office LLC increased its position in shares of Truist Financial by 84.8% during the third quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after buying an additional 44,659 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Truist Financial by 37.8% during the third quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after buying an additional 740,722 shares during the period. Finally, Welch Group LLC increased its position in shares of Truist Financial by 8.3% during the third quarter. Welch Group LLC now owns 1,089,104 shares of the insurance provider’s stock worth $31,159,000 after buying an additional 83,069 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.