Compass Point Raises Truist Financial (NYSE:TFC) Price Target to $47.00

Truist Financial (NYSE:TFC) had its target price raised by Compass Point from $46.00 to $47.00 in a report issued on Wednesday.

A number of other equities research analysts have also recently commented on TFC. Morgan Stanley increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada increased their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.02.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $43.67 on Wednesday. The company’s fifty day moving average price is $42.67 and its 200 day moving average price is $40.30. Truist Financial has a 1 year low of $26.95 and a 1 year high of $45.31. The company has a market capitalization of $58.43 billion, a PE ratio of -33.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. On average, research analysts predict that Truist Financial will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Insider Activity

In other news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Godsey & Gibb Inc. raised its holdings in Truist Financial by 2.7% during the third quarter. Godsey & Gibb Inc. now owns 464,446 shares of the insurance provider’s stock worth $19,864,000 after purchasing an additional 12,350 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Truist Financial by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after purchasing an additional 5,786 shares in the last quarter. Compass Ion Advisors LLC acquired a new stake in Truist Financial during the third quarter worth approximately $1,940,000. OLD National Bancorp IN raised its holdings in Truist Financial by 1.8% during the third quarter. OLD National Bancorp IN now owns 257,036 shares of the insurance provider’s stock worth $10,993,000 after purchasing an additional 4,482 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC raised its holdings in Truist Financial by 901.0% during the third quarter. Cyndeo Wealth Partners LLC now owns 165,913 shares of the insurance provider’s stock worth $7,096,000 after purchasing an additional 149,338 shares in the last quarter. Institutional investors and hedge funds 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.