Truist Financial Corporation (NYSE:TFC) Given Average Rating of “Hold” by Brokerages

Shares of Truist Financial Corporation (NYSE:TFC) have been given a consensus rating of “Hold” by the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $49.9333.

A number of analysts have recently commented on TFC shares. Keefe, Bruyette & Woods upped their target price on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Robert W. Baird reissued a “neutral” rating and issued a $52.00 price objective on shares of Truist Financial in a research note on Thursday, December 11th. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Finally, Piper Sandler set a $48.00 price target on Truist Financial in a research report on Monday, October 20th.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the completion of the sale, the director directly owned 10,153 shares of the company’s stock, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Truist Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after buying an additional 14,093 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Truist Financial by 0.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,738,239 shares of the insurance provider’s stock valued at $112,680,000 after purchasing an additional 16,869 shares in the last quarter. Freedom Investment Management Inc. raised its stake in Truist Financial by 10.2% in the first quarter. Freedom Investment Management Inc. now owns 16,759 shares of the insurance provider’s stock valued at $690,000 after buying an additional 1,558 shares in the last quarter. Harvest Portfolios Group Inc. lifted its stake in Truist Financial by 8.6% during the first quarter. Harvest Portfolios Group Inc. now owns 146,821 shares of the insurance provider’s stock worth $6,042,000 after purchasing an additional 11,672 shares during the last quarter. Finally, Quadcap Wealth Management LLC lifted its position in shares of Truist Financial by 6.8% during the 1st quarter. Quadcap Wealth Management LLC now owns 29,761 shares of the insurance provider’s stock worth $1,225,000 after buying an additional 1,896 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC opened at $49.56 on Wednesday. Truist Financial has a 12-month low of $33.56 and a 12-month high of $50.86. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $63.40 billion, a PE ratio of 13.32, a P/E/G ratio of 1.08 and a beta of 0.90. The firm has a 50 day moving average of $46.73 and a two-hundred day moving average of $45.24.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. On average, analysts anticipate that Truist Financial will post 4 EPS for the current year.

Truist Financial announced that its board has initiated a stock repurchase program on Tuesday, December 16th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the insurance provider to buy up to 15.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is currently 55.91%.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.