Truist Financial Co. (NYSE:TFC) Receives $49.89 Consensus PT from Brokerages

Truist Financial Co. (NYSE:TFC) has received a consensus rating of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $49.89.

Several equities research analysts recently commented on TFC shares. Compass Point boosted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Barclays boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th.

Truist Financial Stock Down 2.5 %

Shares of NYSE:TFC opened at $42.83 on Wednesday. The company has a 50 day moving average of $45.36 and a 200-day moving average of $43.29. The stock has a market cap of $56.86 billion, a price-to-earnings ratio of -29.95, a P/E/G ratio of 1.88 and a beta of 1.08. Truist Financial has a one year low of $34.23 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.86%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Truist Financial

A number of institutional investors and hedge funds have recently modified their holdings of TFC. Bangor Savings Bank increased its position in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial during the third quarter worth approximately $32,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial in the 2nd quarter worth $31,000. Finally, Fortitude Family Office LLC grew its position in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the period. 71.28% of the stock is currently owned by institutional investors.

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.