Truist Financial (NYSE:TFC) Upgraded at StockNews.com

StockNews.com upgraded shares of Truist Financial (NYSE:TFC) from a sell rating to a hold rating in a report published on Friday.

TFC has been the topic of several other research reports. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Raymond James boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, UBS Group lifted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.95.

Truist Financial Stock Performance

Truist Financial stock opened at $47.63 on Friday. Truist Financial has a twelve month low of $34.23 and a twelve month high of $49.06. The stock’s 50 day moving average is $45.40 and its 200 day moving average is $43.57. The company has a market capitalization of $63.23 billion, a P/E ratio of -33.31, a PEG ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5,047,370 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Truist Financial will post 3.61 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors have recently modified their holdings of the company. Bangor Savings Bank increased its stake in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the third quarter valued at approximately $32,000. Fortitude Family Office LLC lifted its position in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in Truist Financial during the 3rd quarter worth about $45,000. 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.