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

Shares of Truist Financial Co. (NYSE:TFC) have been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $45.45.

TFC has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada increased their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd.

Insider Buying and Selling at Truist Financial

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

Hedge Funds Weigh In On Truist Financial

Hedge funds have recently modified their holdings of the stock. Capital Investment Counsel Inc raised its position in Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after acquiring an additional 244 shares in the last quarter. Verum Partners LLC lifted its stake in Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after purchasing an additional 261 shares during the last quarter. CX Institutional grew its holdings in Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 263 shares during the period. Coldstream Capital Management Inc. raised its stake in Truist Financial by 1.5% in the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after buying an additional 274 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Truist Financial by 2.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock valued at $557,000 after buying an additional 275 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.4 %

Shares of TFC opened at $42.52 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $56.90 billion, a price-to-earnings ratio of -32.21, a PEG ratio of 1.93 and a beta of 1.06. The stock has a fifty day moving average price of $42.79 and a two-hundred day moving average price of $39.74. Truist Financial has a 52-week low of $26.57 and a 52-week high of $45.31.

Truist Financial (NYSE:TFC) last announced its 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. 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 revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. Analysts predict that Truist Financial will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued 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 yield of 4.89%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

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.