Truist Financial (NYSE:TFC) Stock Price Target Lowered at Keefe, Bruyette & Woods

Truist Financial (NYSE:TFC) had its target price decreased by Keefe, Bruyette & Woods from $55.00 to $54.00 in a report released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.

TFC has been the subject of several other reports. Morgan Stanley restated an “equal weight” rating and set a $54.00 price objective (down from $62.00) on shares of Truist Financial in a research note on Monday, July 6th. Evercore reiterated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a research note on Monday, July 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Robert W. Baird raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Stephens decreased their target price on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.24.

Truist Financial Trading Down 1.6%

Truist Financial stock opened at $46.32 on Monday. The stock has a 50-day moving average price of $49.06 and a 200 day moving average price of $49.65. The company has a market capitalization of $56.59 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.04 and a beta of 0.92. Truist Financial has a 52 week low of $42.70 and a 52 week high of $56.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.95.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the company posted $1.04 EPS. Truist Financial’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Truist Financial will post 4.67 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is currently 53.61%.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. Boyer, Jr. sold 3,986 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the transaction, the director directly owned 10,270 shares of the company’s stock, valued at approximately $520,689. The trade was a 27.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donta L. Wilson sold 13,280 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the sale, the insider owned 56,009 shares in the company, valued at approximately $2,904,066.65. This represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Truist Financial

Large investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in Truist Financial in the second quarter valued at $30,000. Navigoe LLC purchased a new stake in shares of Truist Financial during the 2nd quarter worth about $30,000. Evolution Wealth Management Inc. boosted its stake in shares of Truist Financial by 2,218.2% during the 1st quarter. Evolution Wealth Management Inc. now owns 765 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 732 shares in the last quarter. Wilkerson Advisory Group LLC boosted its stake in shares of Truist Financial by 104.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 421 shares in the last quarter. Finally, SHP Wealth Management acquired a new stake in shares of Truist Financial during the 4th quarter valued at about $41,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Company Profile

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.