Truist Financial Co. (NYSE:TFC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Truist Financial Co. (NYSE:TFC) have received an average rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the company, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $45.45.

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research report on Tuesday. Finally, Bank of America lifted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd.

Insider Activity at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares in the company, 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 Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Cannon Financial Strategists Inc. purchased a new stake in shares of Truist Financial in the second quarter worth about $286,000. Sanctuary Advisors LLC purchased a new stake in Truist Financial in the 2nd quarter worth approximately $8,606,000. Farmers National Bank boosted its holdings in Truist Financial by 18.9% in the 2nd quarter. Farmers National Bank now owns 54,935 shares of the insurance provider’s stock valued at $2,134,000 after purchasing an additional 8,726 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Truist Financial during the 2nd quarter valued at $254,000. Finally, 3Chopt Investment Partners LLC bought a new position in shares of Truist Financial in the second quarter worth $331,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.6 %

Shares of Truist Financial stock opened at $41.65 on Thursday. The stock has a market capitalization of $55.78 billion, a PE ratio of -31.55, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. Truist Financial has a 52 week low of $26.57 and a 52 week high of $45.31. The stock has a 50 day moving average price of $42.41 and a two-hundred day moving average price of $39.21. 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 posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $0.95 EPS. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Truist Financial will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.99%. Truist Financial’s payout ratio is -157.58%.

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.