Piper Sandler Issues Positive Forecast for Truist Financial (NYSE:TFC) Stock Price

Truist Financial (NYSE:TFC) had its target price boosted by Piper Sandler from $46.00 to $51.00 in a research report released on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group upped their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group boosted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Citigroup lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.67.

Truist Financial Stock Down 1.2 %

NYSE:TFC opened at $46.43 on Tuesday. The company has a market cap of $61.64 billion, a price-to-earnings ratio of -32.47, a P/E/G ratio of 1.93 and a beta of 1.06. Truist Financial has a 52-week low of $32.78 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s fifty day moving average price is $44.42 and its two-hundred day moving average price is $41.93.

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

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Truist Financial

A number of institutional investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas acquired a new stake in shares of Truist Financial during the 3rd quarter worth $980,000. Inspire Trust Co. N.A. raised its position in Truist Financial by 13.9% during the third quarter. Inspire Trust Co. N.A. now owns 75,000 shares of the insurance provider’s stock valued at $3,208,000 after purchasing an additional 9,163 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in shares of Truist Financial by 0.6% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 311,802 shares of the insurance provider’s stock valued at $13,336,000 after purchasing an additional 1,742 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Truist Financial by 27.1% during the 3rd quarter. Synovus Financial Corp now owns 556,243 shares of the insurance provider’s stock worth $23,791,000 after buying an additional 118,692 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Truist Financial by 6.9% during the 3rd quarter. Tidal Investments LLC now owns 62,803 shares of the insurance provider’s stock worth $2,686,000 after buying an additional 4,029 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

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.