Truist Financial Co. (NYSE:TFC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Truist Financial Co. (NYSE:TFC) have received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $46.02.

TFC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. 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. Finally, Royal Bank of Canada raised their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th.

Truist Financial Stock Performance

NYSE:TFC opened at $43.42 on Friday. The company has a market capitalization of $58.15 billion, a PE ratio of -30.36, a P/E/G ratio of 1.84 and a beta of 1.05. The company has a 50 day simple moving average of $42.76 and a two-hundred day simple moving average of $40.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial has a fifty-two week low of $27.01 and a fifty-two week high of $45.31.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business 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 4.89% and a positive return on equity of 9.35%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. Research analysts anticipate that Truist Financial will post 3.58 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.79%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Hedge Funds Weigh In On Truist Financial

Hedge funds have recently bought and sold shares of the company. Norden Group LLC purchased a new position in Truist Financial during the 1st quarter worth $2,351,000. Nordea Investment Management AB boosted its holdings in Truist Financial by 44.4% during the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after acquiring an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Truist Financial during the 1st quarter worth $516,000. M&G Plc purchased a new position in Truist Financial during the 2nd quarter worth $2,804,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

About Truist Financial

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.