Truist Financial Corporation (NYSE:TFC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Truist Financial Corporation (NYSE:TFC) has earned a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $50.5882.

A number of equities analysts have issued reports on the company. Morgan Stanley lifted their price target on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. UBS Group set a $55.00 target price on Truist Financial in a report on Tuesday, October 21st. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods raised their price objective on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th.

Truist Financial Stock Performance

TFC opened at $44.71 on Tuesday. Truist Financial has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a market cap of $57.20 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.20 and a beta of 0.92. The company’s fifty day moving average price is $44.80 and its two-hundred day moving average price is $43.11. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts expect that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

Institutional Investors Weigh In On Truist Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Truist Financial in the 2nd quarter worth approximately $487,401,000. Victory Capital Management Inc. lifted its holdings in Truist Financial by 922.9% during the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after acquiring an additional 6,012,817 shares during the period. Invesco Ltd. lifted its holdings in Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after acquiring an additional 3,188,999 shares during the period. Nuveen LLC purchased a new position in Truist Financial in the first quarter worth $117,929,000. Finally, Jennison Associates LLC grew its stake in Truist Financial by 203.1% in the 3rd quarter. Jennison Associates LLC now owns 3,918,994 shares of the insurance provider’s stock valued at $179,176,000 after purchasing an additional 2,625,847 shares during the period. 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.