Truist Financial Co. (NYSE:TFC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Truist Financial Co. (NYSE:TFC) have been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are currently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $50.79.

TFC has been the topic of several analyst reports. Compass Point increased their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. UBS Group increased their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company increased their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Stephens upped their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Raymond James upped their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Truist Financial

Large investors have recently added to or reduced their stakes in the business. Bangor Savings Bank grew its stake in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. acquired a new stake in Truist Financial during the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial during the third quarter worth approximately $32,000. Fortitude Family Office LLC grew its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in Truist Financial during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $48.14 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s fifty day moving average price is $45.52 and its two-hundred day moving average price is $44.20. Truist Financial has a one year low of $34.23 and a one year high of $49.06. The firm has a market cap of $63.90 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. On average, equities analysts forecast that Truist Financial will post 3.95 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.32%. Truist Financial’s dividend payout ratio is presently 62.46%.

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.