Truist Financial (NYSE:TFC) Stock Rating Reaffirmed by Stephens

Stephens restated their overweight rating on shares of Truist Financial (NYSE:TFC) in a report published on Tuesday, Benzinga reports. The brokerage currently has a $50.00 price objective on the insurance provider’s stock.

Other analysts also recently issued reports about the company. StockNews.com downgraded Truist Financial from a hold rating to a sell rating in a research report on Tuesday, July 23rd. Citigroup downgraded Truist Financial from a buy rating to a neutral rating and increased their price target for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Wolfe Research raised Truist Financial from an underperform rating to a peer perform rating in a report on Friday, August 9th. Bank of America increased their price objective on Truist Financial from $45.00 to $50.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada increased their price objective on Truist Financial from $42.00 to $45.00 and gave the company an outperform rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $45.45.

Truist Financial Stock Up 0.5 %

TFC stock opened at $41.84 on Tuesday. The company has a market cap of $56.03 billion, a P/E ratio of -31.70, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. Truist Financial has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The stock’s 50 day simple moving average is $42.53 and its 200 day simple moving average is $39.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 earnings per share. On average, research analysts expect that Truist Financial will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.97%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Buying and Selling

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Truist Financial

A number of large investors have recently added to or reduced their stakes in TFC. Norges Bank purchased a new stake in Truist Financial during the fourth quarter valued at about $307,787,000. Capital International Investors increased its holdings in shares of Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after buying an additional 5,632,493 shares during the period. Parnassus Investments LLC purchased a new position in shares of Truist Financial in the fourth quarter worth about $95,049,000. Azora Capital LP purchased a new position in shares of Truist Financial in the fourth quarter worth about $72,498,000. Finally, Jennison Associates LLC increased its holdings in shares of Truist Financial by 48.9% in the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after buying an additional 1,261,598 shares during the period. 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.