Recent Research Analysts’ Ratings Changes for Truist Financial (TFC)

Several brokerages have updated their recommendations and price targets on shares of Truist Financial (NYSE: TFC) in the last few weeks:

• 7/30/2024 – Truist Financial had its price target raised by analysts at Morgan Stanley from $46.00 to $51.00. They now have an “equal weight” rating on the stock.
• 7/24/2024 – Truist Financial was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $47.00 price target on the stock, up previously from $45.00.
• 7/23/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 7/23/2024 – Truist Financial had its price target raised by analysts at Keefe, Bruyette & Woods from $46.00 to $48.00. They now have an “outperform” rating on the stock.
• 7/23/2024 – Truist Financial had its price target raised by analysts at Royal Bank of Canada from $42.00 to $45.00. They now have an “outperform” rating on the stock.
• 7/23/2024 – Truist Financial had its price target raised by analysts at Morgan Stanley from $44.00 to $46.00. They now have an “equal weight” rating on the stock.
• 7/23/2024 – Truist Financial had its price target raised by analysts at Barclays PLC from $43.00 to $47.00. They now have an “equal weight” rating on the stock.
• 7/23/2024 – Truist Financial had its price target raised by analysts at Argus from $44.00 to $51.00. They now have a “buy” rating on the stock.
• 7/23/2024 – Truist Financial had its price target raised by analysts at The Goldman Sachs Group, Inc. from $45.00 to $50.00. They now have a “buy” rating on the stock.
• 7/23/2024 – Truist Financial had its price target raised by analysts at Bank of America Co. from $45.00 to $50.00. They now have a “buy” rating on the stock.
• 7/17/2024 – Truist Financial was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $45.00 price target on the stock.
• 7/17/2024 – Truist Financial was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating.
• 7/4/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 6/26/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 6/13/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 6/4/2024 – Truist Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Truist Financial Price Performance

Shares of TFC stock traded up $0.32 during mid-day trading on Tuesday, reaching $44.78. The stock had a trading volume of 1,448,245 shares, compared to its average volume of 8,468,868. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.02. The company has a market cap of $59.92 billion, a P/E ratio of -33.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. The business has a 50-day simple moving average of $38.92 and a 200 day simple moving average of $37.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.57 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased 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 owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased 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 owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Institutional Trading of Truist Financial

A number of hedge funds have recently added to or reduced their stakes in TFC. Crewe Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth about $29,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the 2nd quarter worth about $30,000. Missouri Trust & Investment Co boosted its stake in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth about $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

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.