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

Truist Financial Corporation (NYSE:TFC) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $55.5938.

A number of analysts have recently weighed in on TFC shares. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada increased their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Finally, Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, May 1st.

Institutional Trading of Truist Financial

Hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in Truist Financial during the fourth quarter worth $25,000. Swiss RE Ltd. purchased a new stake in Truist Financial during the fourth quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in Truist Financial during the third quarter worth $28,000. McMillan Office Inc. purchased a new stake in Truist Financial during the fourth quarter worth $31,000. Finally, Maseco LLP boosted its holdings in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after buying an additional 228 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 1.2%

NYSE:TFC opened at $48.45 on Friday. The firm has a market capitalization of $60.37 billion, a P/E ratio of 12.02, a PEG ratio of 0.82 and a beta of 0.92. Truist Financial has a 1-year low of $38.27 and a 1-year high of $56.19. The company’s fifty day moving average price is $47.87 and its 200-day moving average price is $48.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. As a group, equities research analysts anticipate that Truist Financial will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. Truist Financial’s dividend payout ratio is 51.61%.

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.