Truist Financial Corporation (NYSE:TFC) Receives Average Rating of “Hold” from Analysts

Shares of Truist Financial Corporation (NYSE:TFC) have received a consensus rating of “Hold” from the eighteen research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $54.6667.

A number of equities analysts have weighed in on TFC shares. JPMorgan Chase & Co. boosted their price target on Truist Financial from $53.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 29th. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $63.00 to $54.00 in a research report on Tuesday, June 30th. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Finally, Bank of America restated a “neutral” rating and issued a $56.00 price target (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th.

Insider Activity

In related news, insider Donta L. Wilson sold 13,280 shares of Truist Financial stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the sale, the insider owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. The trade was a 19.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 3,986 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the completion of the transaction, the director owned 10,270 shares in the company, valued at approximately $520,689. This trade represents a 27.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,516 shares of company stock valued at $1,584,428 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors have recently made changes to their positions in TFC. Kemnay Advisory Services Inc. acquired a new position in shares of Truist Financial in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in Truist Financial during the 4th quarter worth approximately $26,000. McMillan Office Inc. acquired a new stake in Truist Financial during the 4th quarter worth approximately $31,000. Maseco LLP boosted its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $52.92 on Thursday. The company has a market cap of $64.65 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89. The firm has a 50-day moving average of $50.51 and a 200-day moving average of $49.67. Truist Financial has a one year low of $40.78 and a one year high of $56.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the prior year, the firm earned $0.91 EPS. Truist Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Truist Financial will post 4.59 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, August 14th. Truist Financial’s payout ratio is currently 47.71%.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.