Truist Financial (NYSE:TFC) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Truist Financial (NYSE:TFC) from a sell rating to a hold rating in a research note published on Thursday morning.

TFC has been the subject of several other research reports. Compass Point upgraded shares of Truist Financial from a neutral rating to a buy rating and boosted their price objective for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. TheStreet lowered shares of Truist Financial from a b- rating to a c rating in a research note on Tuesday, February 20th. Piper Sandler lifted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a neutral rating in a research report on Friday, January 19th. Citigroup lifted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an outperform rating in a report on Friday, January 19th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $41.88.

Truist Financial Stock Up 1.3 %

TFC stock traded up $0.50 during mid-day trading on Thursday, reaching $38.85. The company had a trading volume of 8,081,419 shares, compared to its average volume of 8,655,990. Truist Financial has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The company has a market capitalization of $51.85 billion, a price-to-earnings ratio of -29.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a fifty day simple moving average of $37.08 and a 200 day simple moving average of $35.07.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts forecast that Truist Financial will post 3.3 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC lifted its position in Truist Financial by 6.1% during the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after buying an additional 1,731 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after acquiring an additional 117,524 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares during the period. Loudon Investment Management LLC grew its position in Truist Financial by 18.5% in the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after acquiring an additional 20,490 shares in the last quarter. Finally, Pathstone Family Office LLC raised its stake 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 valued at $2,786,000 after purchasing an additional 44,659 shares during the period. Hedge funds and other 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.