Truist Financial (NYSE:TFC) PT Raised to $45.00 at Citigroup

Truist Financial (NYSE:TFC) had its price objective hoisted by Citigroup from $42.00 to $45.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 5th. Wells Fargo & Company lifted their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the company an overweight rating in a report on Thursday, March 28th. Morgan Stanley reiterated an equal weight rating and set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a hold rating in a report on Monday, April 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the company an outperform rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $41.97.

Truist Financial Trading Up 0.5 %

TFC opened at $38.17 on Wednesday. Truist Financial has a 1-year low of $25.56 and a 1-year high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a market cap of $50.94 billion, a P/E ratio of -28.92, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a fifty day moving average price of $36.90 and a two-hundred day moving average price of $34.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. Analysts predict that Truist Financial will post 3.27 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.45%. Truist Financial’s payout ratio is -157.58%.

Insider Transactions at Truist Financial

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

Hedge Funds Weigh In On Truist Financial

Large investors have recently modified their holdings of the business. Fonville Wealth Management LLC grew its stake in Truist Financial by 25.9% during the first quarter. Fonville Wealth Management LLC now owns 7,685 shares of the insurance provider’s stock valued at $300,000 after acquiring an additional 1,580 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its stake in Truist Financial by 4.2% during the first quarter. Foster Victor Wealth Advisors LLC now owns 62,028 shares of the insurance provider’s stock valued at $2,314,000 after acquiring an additional 2,494 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in Truist Financial by 8.6% during the first quarter. Prestige Wealth Management Group LLC now owns 8,486 shares of the insurance provider’s stock valued at $331,000 after acquiring an additional 675 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Truist Financial during the first quarter valued at approximately $56,000. Finally, First National Trust Co grew its stake in Truist Financial by 116.8% during the first quarter. First National Trust Co now owns 209,225 shares of the insurance provider’s stock valued at $8,156,000 after acquiring an additional 112,739 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

About Truist Financial

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.