Truist Financial Corporation (NYSE:TFC) Receives Average Rating of “Hold” from Analysts

Shares of Truist Financial Corporation (NYSE:TFC) have received a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $55.60.

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Truist Financial from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday. Argus increased their price objective on shares of Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Citigroup raised their price objective on shares of Truist Financial from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Morgan Stanley upped their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research note on Monday, December 29th.

Insider Transactions at Truist Financial

In related news, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the transaction, the chief accounting officer owned 667 shares in the company, valued at approximately $35,010.83. The trade was a 83.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the sale, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at $3,725,811.99. The trade was a 14.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 21,660 shares of company stock worth $1,075,087. 0.17% of the stock is currently owned by company insiders.

Institutional Trading of Truist Financial

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Truist Financial by 1.3% during the second quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock worth $5,177,722,000 after acquiring an additional 1,529,478 shares in the last quarter. Capital International Investors increased its position in shares of Truist Financial by 0.7% during the fourth quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after acquiring an additional 715,433 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Truist Financial by 0.3% during the second quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock worth $1,205,855,000 after acquiring an additional 74,728 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Truist Financial by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock valued at $755,185,000 after acquiring an additional 164,034 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Truist Financial by 6.5% in the 2nd quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock worth $601,650,000 after purchasing an additional 854,826 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock opened at $54.09 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $69.20 billion, a PE ratio of 14.20, a PEG ratio of 0.93 and a beta of 0.89. Truist Financial has a 52 week low of $33.56 and a 52 week high of $56.19. The stock’s fifty day moving average is $50.68 and its 200-day moving average is $46.91.

Truist Financial (NYSE:TFC) last announced its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. Truist Financial’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts expect that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 3.8%. Truist Financial’s dividend payout ratio is presently 54.59%.

Truist Financial declared that its Board of Directors has initiated a share buyback program on Tuesday, December 16th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 15.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.