Truist Financial Corporation (NYSE:TFC) Receives $54.47 Consensus PT from Brokerages

Truist Financial Corporation (NYSE:TFC) has been assigned an average recommendation of “Hold” from the eighteen brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $54.4722.

TFC has been the topic of several recent research reports. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $63.00 to $54.00 in a research report on Tuesday, June 30th. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Friday, May 1st. Bank of America reiterated a “neutral” rating and set a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Evercore reissued an “outperform” rating and set a $57.00 price objective on shares of Truist Financial in a report on Monday, July 6th. Finally, Stephens began coverage on Truist Financial in a report on Monday, June 15th. They set an “overweight” rating and a $59.00 price objective on the stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $53.08 on Friday. The firm’s 50 day moving average is $49.33 and its 200 day moving average is $49.48. The stock has a market capitalization of $66.13 billion, a P/E ratio of 13.17, a PEG ratio of 0.93 and a beta of 0.89. Truist Financial has a 12 month low of $40.78 and a 12 month high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

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, beating analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the business earned $0.87 EPS. Truist Financial’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Truist Financial will post 4.51 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. Truist Financial’s dividend payout ratio is currently 51.61%.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors and hedge funds have recently modified their holdings of TFC. Kemnay Advisory Services Inc. purchased a new position in Truist Financial during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new stake in Truist Financial during the 4th quarter worth approximately $26,000. McMillan Office Inc. purchased a new stake in Truist Financial in the 4th quarter worth approximately $31,000. Maseco LLP lifted its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings 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. 71.28% of the stock is owned by hedge funds and other institutional investors.

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.