Truist Financial Co. (NYSE:TFC) Given Average Rating of “Moderate Buy” by Brokerages

Truist Financial Co. (NYSE:TFC) has earned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $45.45.

TFC has been the subject of several research reports. Argus raised their price target on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada boosted their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods increased their price target on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. This represents a 0.00 % increase in their position. The purchase 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Institutional Trading of Truist Financial

A number of institutional investors have recently modified their holdings of TFC. Capital International Investors raised its stake in Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after purchasing an additional 5,632,493 shares in the last quarter. Azora Capital LP acquired a new position in shares of Truist Financial in the 4th quarter valued at approximately $72,498,000. Jennison Associates LLC boosted its position in shares of Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after acquiring an additional 1,261,598 shares in the last quarter. Morningstar Investment Services LLC increased its stake in Truist Financial by 94.5% in the fourth quarter. Morningstar Investment Services LLC now owns 1,753,129 shares of the insurance provider’s stock valued at $65,374,000 after acquiring an additional 851,725 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Truist Financial by 44.4% during the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after purchasing an additional 834,048 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 2.2 %

Shares of NYSE:TFC opened at $42.39 on Monday. The firm has a market cap of $56.72 billion, a price-to-earnings ratio of -32.11, a PEG ratio of 1.95 and a beta of 1.05. Truist Financial has a 12 month low of $26.57 and a 12 month high of $45.31. The company’s fifty day simple moving average is $42.59 and its 200 day simple moving average is $39.92. 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 issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. As a group, research analysts forecast that Truist Financial will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.91%. Truist Financial’s dividend payout ratio (DPR) 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.