Truist Financial (NYSE:TFC) Price Target Increased to $47.00 by Analysts at JPMorgan Chase & Co.

Truist Financial (NYSE:TFC) had its price target raised by JPMorgan Chase & Co. from $43.50 to $47.00 in a research note released on Wednesday morning. The firm currently has a neutral rating on the insurance provider’s stock.

A number of other analysts also recently weighed in on the company. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group increased their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. 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. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Wednesday, July 17th. Finally, Royal Bank of Canada increased their price target on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Up 1.7 %

Shares of NYSE:TFC opened at $43.67 on Wednesday. The company has a market capitalization of $58.43 billion, a PE ratio of -33.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. Truist Financial has a 52-week low of $26.95 and a 52-week high of $45.31. The company has a fifty day moving average of $42.67 and a 200-day moving average of $40.30. 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 posted its quarterly earnings data 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 positive return on equity of 9.18% and a negative net margin of 5.63%. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. On average, equities analysts predict that Truist Financial will post 3.55 EPS for the current fiscal 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 $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.76%. Truist Financial’s payout ratio is -157.58%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. purchased 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Truist Financial

Several large investors have recently modified their holdings of TFC. Capital International Investors increased its stake in shares of Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after purchasing an additional 1,261,598 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of 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 purchasing an additional 834,048 shares during the last quarter. Retirement Systems of Alabama grew its stake in Truist Financial by 278.6% in the 1st quarter. Retirement Systems of Alabama now owns 1,112,844 shares of the insurance provider’s stock valued at $43,379,000 after buying an additional 818,916 shares in the last quarter. Finally, Swedbank AB purchased a new position in Truist Financial in the 1st quarter valued at approximately $29,957,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.