Truist Financial (NYSE:TFC) Price Target Raised to $49.00

Truist Financial (NYSE:TFC) had its price target upped by Keefe, Bruyette & Woods from $48.00 to $49.00 in a report released on Wednesday morning. The brokerage currently has an overweight rating on the insurance provider’s stock.

A number of other research firms also recently issued reports on TFC. Argus increased their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Compass Point upped their price target on Truist Financial from $46.00 to $47.00 in a report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.02.

Truist Financial Trading Up 1.7 %

NYSE TFC opened at $43.67 on Wednesday. Truist Financial has a 12 month low of $26.95 and a 12 month high of $45.31. The company has a 50-day moving average of $42.67 and a 200-day moving average of $40.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $58.43 billion, a P/E ratio of -33.08, a P/E/G ratio of 1.82 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 EPS. As a group, equities analysts predict that Truist Financial will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.76%. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors have recently added to or reduced their stakes in TFC. Crewe Advisors LLC bought a new position in shares of Truist Financial in the first quarter valued at $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the first quarter valued at $29,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial in the second quarter valued at $31,000. Finally, Rise Advisors LLC bought a new position in shares of Truist Financial in the first quarter valued at $32,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Company Profile

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.