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

Truist Financial Co. (NYSE:TFC) has received an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $50.68.

A number of analysts have recently issued reports on TFC shares. Wells Fargo & Company dropped their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Raymond James upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley raised their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st.

Hedge Funds Weigh In On Truist Financial

Institutional investors have recently modified their holdings of the company. Capital International Investors boosted its holdings in Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after acquiring an additional 18,712,246 shares during the period. Norges Bank bought a new stake in Truist Financial during the 4th quarter valued at approximately $402,828,000. FMR LLC boosted its stake in Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock valued at $453,762,000 after purchasing an additional 5,457,053 shares during the period. Raymond James Financial Inc. bought a new position in Truist Financial in the 4th quarter worth approximately $198,051,000. Finally, State Street Corp lifted its holdings in shares of Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $40.46 on Monday. The company has a 50-day simple moving average of $44.78 and a 200-day simple moving average of $44.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $52.81 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial has a 12 month low of $35.09 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. On average, equities analysts anticipate that Truist Financial will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

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.