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

Truist Financial Corporation (NYSE:TFC) has been assigned a consensus rating of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $55.1176.

A number of equities research analysts recently commented on TFC shares. JPMorgan Chase & Co. boosted their target price on Truist Financial from $53.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 29th. Stephens cut their price target on Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $63.00 to $54.00 in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $54.00 target price (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $50.46 on Monday. The company has a market cap of $61.64 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.06 and a beta of 0.89. Truist Financial has a 52-week low of $40.78 and a 52-week high of $56.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average is $51.47 and its two-hundred day moving average is $49.64.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, analysts anticipate that Truist Financial will post 4.58 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s dividend payout ratio is presently 47.71%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, insider Donta L. Wilson sold 13,280 shares of Truist Financial stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the transaction, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This trade represents a 19.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. The disclosure for this sale is available in the SEC filing. Insiders sold 30,516 shares of company stock worth $1,584,428 over the last 90 days. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Truist Financial

Several large investors have recently added to or reduced their stakes in TFC. Amundi lifted its stake in shares of Truist Financial by 2.2% in the 2nd quarter. Amundi now owns 4,511,851 shares of the insurance provider’s stock valued at $224,780,000 after purchasing an additional 98,623 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Truist Financial by 21.1% in the 2nd quarter. HighTower Advisors LLC now owns 1,808,394 shares of the insurance provider’s stock worth $90,094,000 after purchasing an additional 315,424 shares during the period. Groupe la Francaise increased its position in shares of Truist Financial by 10.6% during the 2nd quarter. Groupe la Francaise now owns 100,541 shares of the insurance provider’s stock valued at $5,009,000 after purchasing an additional 9,646 shares during the last quarter. California State Teachers Retirement System raised its holdings in Truist Financial by 4,694.8% during the 2nd quarter. California State Teachers Retirement System now owns 97,097,187 shares of the insurance provider’s stock valued at $4,837,382,000 after buying an additional 95,072,155 shares during the period. Finally, Wedmont Private Capital raised its holdings in Truist Financial by 19.4% during the 2nd quarter. Wedmont Private Capital now owns 16,570 shares of the insurance provider’s stock valued at $856,000 after buying an additional 2,697 shares during the period. 71.28% of the stock is owned by institutional investors.

About Truist Financial

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.