Analysts Set Truist Financial Co. (NYSE:TFC) Target Price at $45.30

Shares of Truist Financial Co. (NYSE:TFC) have earned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $45.30.

TFC has been the topic of a number of research analyst reports. Barclays increased their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Bank of America upped their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Argus increased their price target on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd.

Truist Financial Trading Down 2.5 %

NYSE:TFC opened at $42.06 on Thursday. Truist Financial has a 52 week low of $26.57 and a 52 week high of $45.31. The firm’s fifty day moving average is $42.24 and its 200-day moving average is $39.08. The firm has a market cap of $56.32 billion, a P/E ratio of -31.86, a P/E/G ratio of 2.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Insiders Place Their Bets

In other news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of Truist Financial in the first quarter valued at $27,000. Opal Wealth Advisors LLC purchased a new position in Truist Financial during the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial during the second quarter valued at about $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Truist Financial in the second quarter worth about $31,000. Finally, Missouri Trust & Investment Co boosted its position in shares of Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the period. 71.28% of the stock is currently 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.