Truist Financial (NYSE:TFC) Price Target Raised to $45.00

Truist Financial (NYSE:TFC) had its price target hoisted by Royal Bank of Canada from $42.00 to $45.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

TFC has been the topic of a number of other research reports. Stephens increased their price target on Truist Financial from $43.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, May 16th. Barclays initiated coverage on Truist Financial in a research note on Thursday, May 16th. They issued an equal weight rating and a $43.00 price target on the stock. UBS Group increased their price target on Truist Financial from $45.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 5th. Robert W. Baird cut Truist Financial from an outperform rating to a neutral rating and set a $45.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company increased their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $45.05.

Truist Financial Trading Up 0.7 %

NYSE TFC opened at $44.45 on Tuesday. The company has a market cap of $59.47 billion, a PE ratio of -33.67, a PEG 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 12 month low of $26.57 and a 12 month high of $44.78. The stock has a 50 day moving average of $38.81 and a 200-day moving average of $37.75.

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 the consensus estimate 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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that Truist Financial will post 3.56 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $25,025,153.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Institutional Trading of Truist Financial

Several large investors have recently bought and sold shares of TFC. Crewe Advisors LLC acquired a new stake in shares of Truist Financial during the first quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial during the first quarter valued at about $29,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial during the second quarter valued at about $30,000. Rise Advisors LLC acquired a new stake in shares of Truist Financial during the first quarter valued at about $32,000. Finally, Missouri Trust & Investment Co boosted its stake in shares of Truist Financial by 227.2% during the fourth 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.

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.