Truist Financial (NYSE:TFC) Price Target Increased to $47.00 by Analysts at Compass Point

Truist Financial (NYSE:TFC) had its price target increased by Compass Point from $46.00 to $47.00 in a research report report published on Wednesday.

TFC has been the subject of several other research reports. Argus raised their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada raised their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Barclays raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Morgan Stanley raised their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $45.97.

Truist Financial Trading Up 1.4 %

Shares of TFC stock opened at $44.51 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $59.55 billion, a PE ratio of -33.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05. The company has a 50-day moving average of $42.61 and a two-hundred day moving average of $40.23. Truist Financial has a 1-year low of $26.95 and a 1-year high of $45.31.

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

Truist Financial Dividend Announcement

The business also recently disclosed 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 was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.67%. Truist Financial’s payout ratio is currently -157.58%.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the business’s stock in a transaction on 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 completion of the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

Institutional investors have recently modified their holdings of the business. Crewe Advisors LLC acquired a new position in shares of Truist Financial in the 1st quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at $29,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the 2nd quarter valued at $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

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.