Truist Financial (NYSE:TFC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Truist Financial (NYSE:TFC) had its price target upped by Piper Sandler from $46.00 to $51.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

A number of other research analysts also recently issued reports on the stock. UBS Group boosted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upped their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Compass Point upped their target price on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.67.

Truist Financial Trading Down 1.2 %

Shares of NYSE TFC opened at $46.43 on Tuesday. The firm has a 50 day moving average price of $44.42 and a two-hundred day moving average price of $41.93. The stock has a market cap of $61.64 billion, a P/E ratio of -32.47, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06. Truist Financial has a 52-week low of $32.78 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. As a group, equities analysts forecast that Truist Financial will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.48%. Truist Financial’s payout ratio is -145.45%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Truist Financial during the 2nd quarter worth $42,000. Mather Group LLC. boosted its stake in Truist Financial by 135.7% in the second quarter. Mather Group LLC. now owns 8,408 shares of the insurance provider’s stock valued at $328,000 after acquiring an additional 4,840 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Truist Financial by 72.2% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 20,576 shares of the insurance provider’s stock valued at $799,000 after acquiring an additional 8,626 shares during the period. Park Avenue Securities LLC increased its stake in shares of Truist Financial by 3.4% during the 2nd quarter. Park Avenue Securities LLC now owns 36,136 shares of the insurance provider’s stock worth $1,404,000 after purchasing an additional 1,181 shares during the last quarter. Finally, Simplicity Wealth LLC raised its holdings in shares of Truist Financial by 2.9% in the 2nd quarter. Simplicity Wealth LLC now owns 34,678 shares of the insurance provider’s stock worth $1,347,000 after purchasing an additional 980 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

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.