Brokerages Set Truist Financial Co. (NYSE:TFC) Target Price at $46.37

Truist Financial Co. (NYSE:TFC) has received an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $46.57.

Several equities research analysts have commented on TFC shares. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Compass Point boosted their target price on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Citigroup boosted their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the 3rd quarter valued at $26,000. Crewe Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the second quarter worth $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the second quarter valued at about $31,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the third quarter worth about $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of TFC opened at $48.12 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day simple moving average of $43.80 and a 200 day simple moving average of $41.61. Truist Financial has a 52-week low of $31.23 and a 52-week high of $49.06. The firm has a market capitalization of $63.88 billion, a PE ratio of -33.65, a P/E/G ratio of 1.97 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Sell-side analysts predict that Truist Financial will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is -145.45%.

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.