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

Shares of Truist Financial Co. (NYSE:TFC) have earned a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $50.68.

TFC has been the subject of a number of recent research reports. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Morgan Stanley lifted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th.

Institutional Trading of Truist Financial

Hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its position in shares of Truist Financial by 17.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock valued at $3,518,000 after buying an additional 12,300 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Truist Financial by 81.1% during the third quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock worth $203,000 after purchasing an additional 2,129 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Truist Financial by 10.9% in the third quarter. Citizens Financial Group Inc. RI now owns 9,548 shares of the insurance provider’s stock valued at $408,000 after acquiring an additional 938 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Truist Financial by 34.5% in the 3rd quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock valued at $829,000 after purchasing an additional 4,975 shares in the last quarter. Finally, Banco Santander S.A. acquired a new position in Truist Financial during the third quarter worth $238,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 2.3 %

Truist Financial stock opened at $40.46 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $52.81 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.63 and a beta of 1.08. The business has a fifty day moving average of $44.78 and a two-hundred day moving average of $44.40. Truist Financial has a twelve month low of $35.09 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts forecast that Truist Financial will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.14%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.