StockNews.com Downgrades Truist Financial (NYSE:TFC) to Sell

StockNews.com downgraded shares of Truist Financial (NYSE:TFC) from a hold rating to a sell rating in a report released on Tuesday morning.

Several other analysts also recently commented on TFC. Baird R W downgraded shares of Truist Financial from a strong-buy rating to a hold rating in a research report on Wednesday, July 17th. Evercore ISI reiterated an in-line rating and issued a $44.00 price target on shares of Truist Financial in a research report on Thursday, May 9th. The Goldman Sachs Group upped their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a buy rating in a research report on Tuesday. Barclays upped their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an equal weight rating in a research report on Tuesday. Finally, Stephens boosted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $45.05.

Truist Financial Stock Up 1.2 %

Shares of NYSE:TFC opened at $44.12 on Tuesday. The company has a market capitalization of $59.04 billion, a PE ratio of -33.42, a P/E/G ratio of 2.07 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Truist Financial has a twelve month low of $26.57 and a twelve month high of $44.78. The firm has a 50 day simple moving average of $38.72 and a 200-day simple moving average of $37.70.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The company’s revenue was down 15.9% compared to the same quarter last year. On average, equities analysts predict that Truist Financial will post 3.56 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.71%. Truist Financial’s payout ratio is -157.58%.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Truist Financial

Large investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC purchased a new position in Truist Financial in the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new position in Truist Financial in the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial in the 2nd quarter valued at about $30,000. Rise Advisors LLC purchased a new position in Truist Financial in the 1st quarter valued at about $32,000. Finally, Missouri Trust & Investment Co lifted its holdings in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

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.