Truist Financial (NYSE:TFC) Sets New 52-Week High Following Analyst Upgrade

Truist Financial Co. (NYSE:TFC)’s share price hit a new 52-week high during mid-day trading on Thursday after HSBC raised their price target on the stock from $37.00 to $39.00. HSBC currently has a hold rating on the stock. Truist Financial traded as high as $39.29 and last traded at $39.10, with a volume of 855960 shares traded. The stock had previously closed at $38.59.

Several other analysts also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, January 19th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. Barclays lifted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. UBS Group lifted their target price on shares of Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $40.03.

Insider Transactions at Truist Financial

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

Institutional Trading of Truist Financial

Institutional investors have recently added to or reduced their stakes in the stock. EPG Wealth Management LLC grew its position in shares of Truist Financial by 1.8% during the fourth quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after acquiring an additional 213 shares during the last quarter. Williams Jones Wealth Management LLC. grew its position in shares of Truist Financial by 5.8% during the first quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after acquiring an additional 268 shares during the last quarter. Valmark Advisers Inc. grew its position in Truist Financial by 2.2% in the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after buying an additional 277 shares in the last quarter. St. Johns Investment Management Company LLC grew its position in Truist Financial by 0.9% in the 4th quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock valued at $1,191,000 after buying an additional 296 shares in the last quarter. Finally, Mechanics Financial Corp grew its position in Truist Financial by 7.4% in the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after buying an additional 300 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.6 %

The stock’s 50-day moving average is $36.36 and its 200-day moving average is $33.39. The stock has a market cap of $51.84 billion, a P/E ratio of -35.76, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. As a group, research analysts anticipate that Truist Financial Co. will post 3.39 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.36%. Truist Financial’s dividend payout ratio (DPR) is -192.59%.

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.