Truist Financial Corporation (NYSE:TFC) Receives Average Rating of “Moderate Buy” from Brokerages

Truist Financial Corporation (NYSE:TFC) has been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a 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 $55.7941.

A number of research analysts have commented on the stock. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research note on Friday, April 17th. Royal Bank Of Canada increased their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Stephens assumed coverage on shares of Truist Financial in a research report on Monday. They issued an “overweight” rating and a $59.00 target price on the stock.

Truist Financial Price Performance

TFC opened at $49.15 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $61.24 billion, a P/E ratio of 12.20, a PEG ratio of 0.83 and a beta of 0.89. The stock has a 50-day moving average price of $49.16 and a 200-day moving average price of $49.22. Truist Financial has a 12-month low of $38.88 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last announced 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. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.Truist Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS. Equities analysts predict that Truist Financial will post 4.5 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Institutional Investors Weigh In On Truist Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in Truist Financial by 2.8% during the 1st quarter. Parallel Advisors LLC now owns 34,157 shares of the insurance provider’s stock valued at $1,570,000 after acquiring an additional 925 shares during the period. Keel Point LLC increased its stake in Truist Financial by 8.2% in the 1st quarter. Keel Point LLC now owns 15,676 shares of the insurance provider’s stock worth $721,000 after purchasing an additional 1,191 shares during the period. Carlson Capital L.P. purchased a new position in Truist Financial in the 1st quarter worth approximately $2,050,000. Glenmede Trust Co. NA lifted its position in Truist Financial by 20.3% in the first quarter. Glenmede Trust Co. NA now owns 57,199 shares of the insurance provider’s stock valued at $2,629,000 after purchasing an additional 9,635 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC lifted its position in Truist Financial by 6.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 6,572 shares of the insurance provider’s stock valued at $302,000 after purchasing an additional 389 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

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.