Truist Financial Co. (NYSE:TFC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Truist Financial Co. (NYSE:TFC) have been given an average recommendation of “Moderate Buy” by the twenty research firms that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $48.06.

TFC has been the topic of several recent analyst reports. Raymond James lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Piper Sandler decreased their price target on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Morgan Stanley reduced their price objective on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Finally, Argus set a $43.00 price target on Truist Financial in a research note on Monday, April 21st.

Truist Financial Price Performance

Truist Financial stock opened at $41.04 on Tuesday. The stock’s 50 day moving average is $38.82 and its 200 day moving average is $43.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $53.74 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.63 and a beta of 0.83. Truist Financial has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. As a group, research analysts expect that Truist Financial will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.07%. Truist Financial’s payout ratio is currently 61.36%.

Hedge Funds Weigh In On Truist Financial

Several institutional investors have recently modified their holdings of the company. Public Sector Pension Investment Board increased its position in shares of Truist Financial by 2.2% during the 1st quarter. Public Sector Pension Investment Board now owns 351,885 shares of the insurance provider’s stock valued at $14,480,000 after purchasing an additional 7,408 shares during the last quarter. AIA Group Ltd grew its position in shares of Truist Financial by 31.2% in the 1st quarter. AIA Group Ltd now owns 42,805 shares of the insurance provider’s stock worth $1,761,000 after buying an additional 10,176 shares during the last quarter. Ballast Inc. grew its position in shares of Truist Financial by 0.7% in the 1st quarter. Ballast Inc. now owns 39,348 shares of the insurance provider’s stock worth $1,619,000 after buying an additional 290 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in shares of Truist Financial by 5.1% in the 1st quarter. Meridian Wealth Management LLC now owns 22,942 shares of the insurance provider’s stock valued at $944,000 after purchasing an additional 1,104 shares during the period. Finally, Independent Advisor Alliance lifted its stake in shares of Truist Financial by 1.4% in the 1st quarter. Independent Advisor Alliance now owns 308,893 shares of the insurance provider’s stock valued at $12,711,000 after purchasing an additional 4,151 shares during the period. 71.28% of the stock is currently owned by institutional investors.

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.