Brokerages Set Truist Financial Co. (NYSE:TFC) Price Target at $45.30

Shares of Truist Financial Co. (NYSE:TFC) have received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $45.30.

Several equities analysts recently issued reports on the stock. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Barclays lifted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Argus lifted their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th.

Insider Activity at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in shares of Truist Financial in the second quarter worth about $8,606,000. Farmers National Bank raised its position in shares of Truist Financial by 18.9% in the second quarter. Farmers National Bank now owns 54,935 shares of the insurance provider’s stock worth $2,134,000 after acquiring an additional 8,726 shares during the period. New Wave Wealth Advisors LLC acquired a new position in shares of Truist Financial in the second quarter worth about $254,000. 3Chopt Investment Partners LLC acquired a new position in shares of Truist Financial in the second quarter worth about $331,000. Finally, Ted Buchan & Co acquired a new position in shares of Truist Financial during the 2nd quarter worth about $337,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $42.60 on Thursday. The company has a 50 day moving average price of $42.30 and a 200-day moving average price of $39.15. 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 has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The company has a market capitalization of $57.05 billion, a PE ratio of -32.27, a P/E/G ratio of 1.97 and a beta of 1.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share 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 firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was down 15.9% on a year-over-year basis. As a group, equities analysts forecast that Truist Financial will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.88%. Truist Financial’s dividend payout ratio is presently -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.