Truist Financial Corporation (NYSE:TFC) Receives Consensus Rating of “Hold” from Analysts

Truist Financial Corporation (NYSE:TFC) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $55.60.

TFC has been the topic of a number of recent analyst reports. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. UBS Group set a $55.00 price objective on Truist Financial in a research report on Tuesday, October 21st. Evercore ISI restated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Monday, December 29th.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total value of $239,682.00. Following the sale, the director owned 10,153 shares of the company’s stock, valued at $471,606.85. The trade was a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the sale, the chief financial officer directly owned 74,323 shares in the company, valued at $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,660 shares of company stock valued at $1,075,087 in the last 90 days. 0.17% of the stock is currently owned by company insiders.

Institutional Trading of Truist Financial

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Truist Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock worth $5,177,722,000 after purchasing an additional 1,529,478 shares during the last quarter. Capital International Investors grew its stake in Truist Financial by 0.7% during the fourth quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after buying an additional 715,433 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Truist Financial by 0.3% during the second quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock worth $1,205,855,000 after buying an additional 74,728 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Truist Financial by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock valued at $755,185,000 after acquiring an additional 164,034 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Truist Financial by 6.5% in the 2nd quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock worth $601,650,000 after acquiring an additional 854,826 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 1.8%

Truist Financial stock opened at $54.09 on Thursday. Truist Financial has a one year low of $33.56 and a one year high of $56.19. The company’s fifty day moving average price is $50.68 and its two-hundred day moving average price is $46.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $69.20 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.93 and a beta of 0.89.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company posted $0.91 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, analysts forecast that Truist Financial will post 4 earnings per share for the current fiscal year.

Truist Financial announced that its board has authorized a share buyback program on Tuesday, December 16th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 15.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, February 13th. Truist Financial’s dividend payout ratio is presently 54.59%.

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.