Truist Financial (NYSE:TFC) Price Target Raised to $47.00

Truist Financial (NYSE:TFC) had its price objective boosted by Compass Point from $46.00 to $47.00 in a research note released on Wednesday morning.

A number of other equities analysts have also weighed in on the stock. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Wednesday, July 17th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America raised their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus target price of $46.02.

Truist Financial Trading Up 1.7 %

NYSE:TFC opened at $43.67 on Wednesday. Truist Financial has a one year low of $26.95 and a one year high of $45.31. The business has a fifty day moving average price of $42.67 and a 200-day moving average price of $40.29. The firm has a market capitalization of $58.43 billion, a price-to-earnings ratio of -33.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. Sell-side analysts forecast that Truist Financial will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insider Activity

In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in Truist Financial by 0.3% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 263,351 shares of the insurance provider’s stock valued at $11,264,000 after acquiring an additional 861 shares during the period. New Century Financial Group LLC purchased a new stake in shares of Truist Financial during the third quarter valued at $1,171,000. Aaron Wealth Advisors LLC grew its holdings in shares of Truist Financial by 29.3% in the third quarter. Aaron Wealth Advisors LLC now owns 7,485 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 1,698 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Truist Financial by 0.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 181,599 shares of the insurance provider’s stock worth $7,767,000 after buying an additional 930 shares during the period. Finally, Cardinal Capital Management lifted its holdings in Truist Financial by 0.8% during the 3rd quarter. Cardinal Capital Management now owns 195,327 shares of the insurance provider’s stock valued at $8,354,000 after buying an additional 1,458 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.