Analysts’ Weekly Ratings Changes for Truist Financial (TFC)

A number of firms have modified their ratings and price targets on shares of Truist Financial (NYSE: TFC) recently:

• 10/18/2024 – Truist Financial had its price target raised by analysts at Royal Bank of Canada from $45.00 to $46.00. They now have an “outperform” rating on the stock.
• 10/18/2024 – Truist Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/18/2024 – Truist Financial had its price target raised by analysts at UBS Group AG from $47.00 to $49.00. They now have a “buy” rating on the stock.
• 10/16/2024 – Truist Financial had its price target raised by analysts at Keefe, Bruyette & Woods from $48.00 to $49.00. They now have an “overweight” rating on the stock.
• 10/16/2024 – Truist Financial had its price target raised by analysts at JPMorgan Chase & Co. from $43.50 to $47.00. They now have a “neutral” rating on the stock.
• 10/16/2024 – Truist Financial had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $50.00 to $48.00. They now have a “buy” rating on the stock.
• 10/16/2024 – Truist Financial had its price target raised by analysts at Compass Point from $46.00 to $47.00.
• 9/10/2024 – Truist Financial had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $50.00 price target on the stock.

Truist Financial Trading Up 0.2 %

Shares of Truist Financial stock traded up $0.07 during trading on Wednesday, hitting $43.46. The stock had a trading volume of 3,503,696 shares, compared to its average volume of 8,299,257. The stock has a 50 day simple moving average of $42.73 and a 200 day simple moving average of $40.39. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 1 year low of $27.01 and a 1 year high of $45.31. The company has a market capitalization of $58.15 billion, a PE ratio of -32.92, a P/E/G ratio of 1.83 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results 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. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the business earned $0.95 EPS. The business’s quarterly revenue was down 15.9% on a year-over-year basis. On average, research analysts expect that Truist Financial Co. will post 3.57 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.79%. Truist Financial’s payout ratio is presently -157.58%.

Insider Buying and Selling

In related news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Silver Oak Securities Incorporated grew its holdings in shares of Truist Financial by 18.2% in the 3rd quarter. Silver Oak Securities Incorporated now owns 13,170 shares of the insurance provider’s stock valued at $560,000 after buying an additional 2,030 shares during the period. Element Wealth LLC bought a new stake in Truist Financial during the 3rd quarter worth approximately $225,000. Dakota Wealth Management raised its holdings in Truist Financial by 82.9% during the 3rd quarter. Dakota Wealth Management now owns 149,993 shares of the insurance provider’s stock worth $6,415,000 after buying an additional 67,967 shares during the period. Assenagon Asset Management S.A. lifted its stake in Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after buying an additional 1,609,351 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its holdings in shares of Truist Financial by 3.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 14,976 shares of the insurance provider’s stock worth $641,000 after acquiring an additional 442 shares during the period. 71.28% of the stock is currently owned by institutional investors.

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.