Truist Financial Co. (NYSE:TFC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Truist Financial Co. (NYSE:TFC) have received a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $42.70.

Several equities analysts recently commented on TFC shares. JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 22nd. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank of Canada upped their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Jefferies Financial Group lifted their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TFC. Opal Wealth Advisors LLC bought a new position in Truist Financial in the first quarter valued at about $29,000. Rise Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth approximately $32,000. Missouri Trust & Investment Co raised its stake in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the last quarter. Northwest Financial Advisors acquired a new position in Truist Financial in the fourth quarter valued at approximately $34,000. Finally, Morton Brown Family Wealth LLC boosted its stake in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 0.6 %

Shares of NYSE:TFC opened at $39.10 on Friday. 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 stock’s 50-day moving average is $37.43 and its 200-day moving average is $35.42. The company has a market cap of $52.18 billion, a P/E ratio of -29.62, a P/E/G ratio of 2.03 and a beta of 1.07. Truist Financial has a 52-week low of $26.49 and a 52-week high of $40.35.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.32%. Truist Financial’s dividend payout ratio is -157.58%.

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.