Truist Financial Corporation (NYSE:TFC) Given Consensus Rating of “Hold” by Brokerages

Shares of Truist Financial Corporation (NYSE:TFC) have received a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $52.80.

Several analysts have commented on TFC shares. Robert W. Baird reiterated a “neutral” rating and set a $52.00 target price on shares of Truist Financial in a research report on Thursday, December 11th. Evercore ISI raised Truist Financial from a “hold” rating to an “outperform” rating and increased their target price for the company from $49.00 to $58.00 in a research note on Tuesday, January 6th. Morgan Stanley upped their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. The Goldman Sachs Group reissued a “buy” rating and set a $58.00 price objective on shares of Truist Financial in a research note on Tuesday, January 6th. Finally, UBS Group set a $55.00 price objective on shares of Truist Financial in a report on Tuesday, October 21st.

Truist Financial Trading Down 0.5%

TFC stock opened at $50.01 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial has a twelve month low of $33.56 and a twelve month high of $51.51. The company has a market cap of $63.98 billion, a P/E ratio of 13.44, a PEG ratio of 0.95 and a beta of 0.89. The business has a fifty day moving average of $48.29 and a 200-day moving average of $46.02.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. As a group, equities research analysts expect that Truist Financial will post 4 EPS for the current year.

Truist Financial declared that its board has authorized a stock buyback program on Tuesday, December 16th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 15.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, November 14th. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the sale, the director owned 10,153 shares of the company’s stock, valued at $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

Several hedge funds have recently bought and sold shares of the stock. Alliance Wealth Advisors LLC increased its position in shares of Truist Financial by 1.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock worth $556,000 after acquiring an additional 205 shares in the last quarter. Aprio Wealth Management LLC raised its stake in shares of Truist Financial by 2.7% in the 3rd quarter. Aprio Wealth Management LLC now owns 8,564 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 226 shares during the period. Keystone Financial Group Inc. boosted its position in shares of Truist Financial by 1.1% during the fourth quarter. Keystone Financial Group Inc. now owns 21,739 shares of the insurance provider’s stock worth $1,070,000 after buying an additional 227 shares during the period. Leisure Capital Management raised its position in Truist Financial by 1.2% in the 3rd quarter. Leisure Capital Management now owns 19,985 shares of the insurance provider’s stock valued at $914,000 after buying an additional 230 shares during the last quarter. Finally, Smith Thornton Advisors LLC lifted its stake in Truist Financial by 4.1% in the 3rd quarter. Smith Thornton Advisors LLC now owns 5,900 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 231 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

About Truist Financial

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.