Shares of Truist Financial Co. (NYSE:TFC) have been assigned an average rating of “Hold” from the twenty-one ratings firms that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $55.00.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Truist Financial from $60.50 to $63.00 in a research report on Monday. Raymond James raised their price target on Truist Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 13th. Truist lowered Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Barclays lifted their target price on Truist Financial from $59.00 to $64.00 in a report on Wednesday, April 7th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $53.00 target price on shares of Truist Financial in a report on Thursday, January 7th.

Truist Financial stock traded up $0.79 during mid-day trading on Thursday, hitting $59.98. The company’s stock had a trading volume of 446,865 shares, compared to its average volume of 5,913,952. The firm has a market capitalization of $80.64 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. Truist Financial has a 1 year low of $29.87 and a 1 year high of $61.26. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $58.50 and its two-hundred day moving average is $51.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Wednesday, April 14th. The insurance provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.07. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.43 billion. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. On average, equities analysts expect that Truist Financial will post 3.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, May 13th. Truist Financial’s dividend payout ratio is currently 41.19%.

In other Truist Financial news, EVP Scott Case sold 9,851 shares of Truist Financial stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $58.39, for a total value of $575,199.89. Following the sale, the executive vice president now owns 20,583 shares of the company’s stock, valued at approximately $1,201,841.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph M. Thompson sold 5,265 shares of Truist Financial stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $58.20, for a total value of $306,423.00. Following the completion of the sale, the executive vice president now directly owns 37,741 shares in the company, valued at approximately $2,196,526.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,997 shares of company stock worth $1,223,463. Corporate insiders own 0.35% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Hoover Financial Advisors Inc. purchased a new stake in Truist Financial in the 4th quarter valued at approximately $25,000. Atlas Private Wealth Advisors boosted its stake in shares of Truist Financial by 890.9% during the 1st quarter. Atlas Private Wealth Advisors now owns 436 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 392 shares in the last quarter. Peoples Financial Services CORP. boosted its stake in shares of Truist Financial by 173.4% during the 4th quarter. Peoples Financial Services CORP. now owns 544 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 345 shares in the last quarter. Kinloch Capital LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $26,000. Finally, Evolution Wealth Advisors LLC boosted its stake in shares of Truist Financial by 274.1% during the 1st quarter. Evolution Wealth Advisors LLC now owns 505 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 370 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors.

Truist Financial Company Profile

Truist Financial Corporation, a holding 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.

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Analyst Recommendations for Truist Financial (NYSE:TFC)

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