Brokerages Set Truist Financial Co. (NYSE:TFC) Target Price at $50.79

Shares of Truist Financial Co. (NYSE:TFC) have earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $50.79.

A number of equities research analysts have recently commented on TFC shares. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Citigroup lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Barclays raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th.

Truist Financial Stock Performance

Truist Financial stock opened at $45.41 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial has a 12 month low of $34.51 and a 12 month high of $49.06. The company has a fifty day moving average price of $45.81 and a two-hundred day moving average price of $44.68. The company has a market cap of $59.28 billion, a PE ratio of 13.64, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the business posted $0.81 EPS. Truist Financial’s revenue was up 3.4% on a year-over-year basis. Research analysts expect that Truist Financial will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.58%. Truist Financial’s dividend payout ratio is currently 62.46%.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AMF Tjanstepension AB acquired a new position in Truist Financial during the 3rd quarter worth approximately $3,208,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Truist Financial by 14.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,949 shares of the insurance provider’s stock worth $4,377,000 after buying an additional 13,018 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Truist Financial during the third quarter worth $397,000. abrdn plc lifted its stake in shares of Truist Financial by 4.3% in the 3rd quarter. abrdn plc now owns 1,184,313 shares of the insurance provider’s stock valued at $50,452,000 after acquiring an additional 49,157 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

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.