Truist Financial (NYSE:TFC) Price Target Increased to $48.00 by Analysts at Keefe, Bruyette & Woods

Truist Financial (NYSE:TFC) had its target price lifted by Keefe, Bruyette & Woods from $46.00 to $48.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of Truist Financial from a hold rating to a sell rating in a research note on Thursday, July 4th. Barclays upped their price target on Truist Financial from $43.00 to $47.00 and gave the stock an equal weight rating in a research note on Tuesday. Stephens lifted their price objective on Truist Financial from $43.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, May 16th. Wells Fargo & Company lifted their target price on Truist Financial from $39.00 to $45.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Finally, UBS Group increased their price target on shares of Truist Financial from $45.00 to $49.00 and gave the stock a buy rating in a research report on Friday, April 5th. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $45.05.

Truist Financial Trading Down 0.6 %

TFC stock traded down $0.27 during trading on Tuesday, reaching $43.88. 2,815,068 shares of the stock were exchanged, compared to its average volume of 8,499,902. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $58.72 billion, a price-to-earnings ratio of -33.48, a P/E/G ratio of 2.15 and a beta of 1.07. The business has a 50 day moving average price of $38.57 and a 200-day moving average price of $37.62. Truist Financial has a 1 year low of $26.57 and a 1 year high of $44.38.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS 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 firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. On average, research analysts predict that Truist Financial will post 3.44 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. Shareholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.74%. Truist Financial’s dividend payout ratio is presently -157.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Truist Financial in the 4th quarter valued at $307,787,000. Capital International Investors increased its stake in shares of Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares during the period. Parnassus Investments LLC purchased a new position in Truist Financial during the fourth quarter worth about $95,049,000. Azora Capital LP acquired a new stake in shares of Truist Financial in the 4th quarter valued at approximately $72,498,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Truist Financial by 8.2% during 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 purchasing an additional 1,458,248 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

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.