Research Analysts’ Weekly Ratings Updates for Truist Financial (TFC)

A number of firms have modified their ratings and price targets on shares of Truist Financial (NYSE: TFC) recently:

• 4/8/2024 – Truist Financial had its price target raised by analysts at Jefferies Financial Group Inc. from $40.00 to $41.00. They now have a “hold” rating on the stock.
• 4/5/2024 – Truist Financial had its price target raised by analysts at Keefe, Bruyette & Woods from $44.00 to $45.00. They now have an “outperform” rating on the stock.
• 4/5/2024 – Truist Financial had its price target raised by analysts at UBS Group AG from $45.00 to $49.00. They now have a “buy” rating on the stock.
• 3/28/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/28/2024 – Truist Financial had its price target raised by analysts at Wells Fargo & Company from $39.00 to $45.00. They now have an “overweight” rating on the stock.
• 3/28/2024 – Truist Financial had its price target raised by analysts at HSBC Holdings plc from $37.00 to $39.00. They now have a “hold” rating on the stock.
• 3/20/2024 – Truist Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/19/2024 – Truist Financial was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating. They now have a $43.00 price target on the stock, up previously from $41.00.
• 3/12/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/4/2024 – Truist Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 2/23/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 2/20/2024 – Truist Financial was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating.
• 2/15/2024 – Truist Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Truist Financial Stock Down 4.4 %

NYSE:TFC traded down $1.72 during mid-day trading on Wednesday, hitting $37.25. 11,184,299 shares of the company’s stock traded hands, compared to its average volume of 9,616,582. The company has a fifty day moving average of $36.60 and a 200 day moving average of $34.06. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a market capitalization of $49.71 billion, a P/E ratio of -34.49, a P/E/G ratio of 1.66 and a beta of 1.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82.

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 the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the prior year, the company posted $1.30 EPS. On average, analysts forecast that Truist Financial Co. will post 3.34 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders 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 dividend on an annualized basis and a yield of 5.58%. Truist Financial’s dividend payout ratio is currently -192.59%.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. acquired a new stake in shares of Truist Financial in the first quarter valued at $25,000. United Bank boosted its holdings in Truist Financial by 4.1% in the first quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after purchasing an additional 2,938 shares during the period. Panagora Asset Management Inc. boosted its holdings in Truist Financial by 33.3% in the first quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after purchasing an additional 6,593 shares during the period. Vontobel Holding Ltd. boosted its holdings in Truist Financial by 3.3% in the first quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after purchasing an additional 738 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Truist Financial by 8.1% in the first quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after purchasing an additional 4,234 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.