Truist Financial Co. (NYSE:TFC) Receives $45.45 Average PT from Analysts

Shares of Truist Financial Co. (NYSE:TFC) have earned an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $45.45.

A number of analysts have issued reports on TFC shares. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Bank of America boosted their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their target price on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, 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.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost 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 directly owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost 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 directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Institutional Trading of Truist Financial

Institutional investors have recently added to or reduced their stakes in the stock. Capital Investment Counsel Inc raised its position in shares of Truist Financial by 0.4% during the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after purchasing an additional 244 shares during the last quarter. Verum Partners LLC lifted its position in shares of Truist Financial by 2.5% in the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 261 shares in the last quarter. CX Institutional lifted its position in shares of Truist Financial by 3.4% in the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 263 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Truist Financial by 1.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after acquiring an additional 274 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Truist Financial by 2.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock worth $557,000 after purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.1 %

Shares of NYSE:TFC opened at $41.78 on Monday. Truist Financial has a 52-week low of $26.57 and a 52-week high of $45.31. The stock has a market cap of $55.95 billion, a P/E ratio of -31.65, a PEG ratio of 1.95 and a beta of 1.06. The business has a fifty day moving average of $42.69 and a two-hundred day moving average of $39.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

About Truist Financial

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.