Truist Financial (NYSE:TFC) Stock Rating Upgraded by HSBC

HSBC upgraded shares of Truist Financial (NYSE:TFC) from a hold rating to a buy rating in a research note published on Tuesday, Marketbeat.com reports. They currently have $50.00 target price on the insurance provider’s stock.

A number of other equities analysts have also recently commented on the company. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada increased their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Compass Point lifted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Truist Financial has an average rating of “Hold” and a consensus target price of $49.89.

Truist Financial Stock Performance

Shares of TFC opened at $43.96 on Tuesday. The business has a fifty day moving average of $45.33 and a 200 day moving average of $43.25. The firm has a market capitalization of $58.36 billion, a P/E ratio of -30.74, a PEG 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 earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. As a group, sell-side analysts anticipate that Truist Financial will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, 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 position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Truist Financial

A number of large investors have recently bought and sold shares of TFC. Bangor Savings Bank grew its holdings in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter worth about $26,000. Y.D. More Investments Ltd purchased a new position in shares of Truist Financial during the second quarter worth approximately $31,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial during the third quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC grew its stake in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Hedge funds and other institutional investors 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.