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

Shares of Truist Financial Co. (NYSE:TFC) have been given a consensus recommendation of “Moderate Buy” by the twenty-two brokerages that are currently covering the stock, Marketbeat reports. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $46.37.

TFC has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. UBS Group lifted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods upped their target price on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th.

Institutional Trading of Truist Financial

Several hedge funds and other institutional investors have recently bought and sold shares of TFC. Rehmann Capital Advisory Group raised its position in shares of Truist Financial by 15.4% in the third quarter. Rehmann Capital Advisory Group now owns 9,468 shares of the insurance provider’s stock worth $405,000 after acquiring an additional 1,265 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Truist Financial during the 3rd quarter valued at about $1,452,000. Coldstream Capital Management Inc. increased its stake in shares of Truist Financial by 11.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 20,764 shares of the insurance provider’s stock valued at $894,000 after purchasing an additional 2,171 shares in the last quarter. Geode Capital Management LLC raised its holdings in Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after purchasing an additional 456,412 shares during the period. Finally, Vestcor Inc boosted its position in Truist Financial by 9.5% during the third quarter. Vestcor Inc now owns 25,992 shares of the insurance provider’s stock worth $1,112,000 after purchasing an additional 2,265 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

NYSE:TFC opened at $47.96 on Tuesday. The firm has a market capitalization of $63.67 billion, a price-to-earnings ratio of -33.54, a PEG ratio of 1.92 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $43.68 and a 200-day simple moving average of $41.53. Truist Financial has a 1 year low of $31.23 and a 1 year high of $48.06.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Equities analysts forecast that Truist Financial will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.34%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.