Truist Financial (NYSE:TFC) Price Target Raised to $46.00 at Morgan Stanley

Truist Financial (NYSE:TFC) had its price target upped by Morgan Stanley from $44.00 to $46.00 in a report issued on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

TFC has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an overweight rating in a research report on Thursday, March 28th. HSBC raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a hold rating in a research report on Wednesday, May 8th. Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a hold rating in a research report on Monday, April 8th. Citigroup increased their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $46.00 to $48.00 and gave the stock an outperform rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $45.05.

Truist Financial Trading Up 0.7 %

TFC stock opened at $44.45 on Tuesday. The company has a market capitalization of $59.47 billion, a PE ratio of -33.67, a P/E/G ratio of 2.07 and a beta of 1.07. Truist Financial has a 12 month low of $26.57 and a 12 month high of $44.78. The firm’s 50-day moving average is $38.81 and its 200 day moving average is $37.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. On average, research analysts anticipate that Truist Financial will post 3.56 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.68%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Truist Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Truist Financial by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares during the period. Capital International Investors grew its stake in shares of Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Truist Financial by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after purchasing an additional 883,416 shares during the period. Norges Bank acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $307,787,000. Finally, UBS Group AG grew its stake in shares of Truist Financial by 2.7% during the 4th quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock worth $144,507,000 after purchasing an additional 101,288 shares during the period. Institutional investors and hedge funds 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.