Truist Financial Co. (NYSE:TFC) Given Consensus Recommendation of “Hold” by Brokerages

Truist Financial Co. (NYSE:TFC – Get Rating) has received a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $68.75.

TFC has been the subject of a number of recent analyst reports. Credit Suisse Group boosted their price objective on Truist Financial from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, January 24th. JPMorgan Chase & Co. boosted their price objective on Truist Financial from $67.50 to $68.50 and gave the company a “neutral” rating in a research report on Thursday, January 6th. Morgan Stanley boosted their price target on Truist Financial from $68.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, December 6th. Piper Sandler cut Truist Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $69.00 to $72.00 in a research report on Wednesday, January 19th. Finally, Stephens boosted their price target on Truist Financial from $72.00 to $73.50 and gave the stock an “overweight” rating in a research report on Wednesday, January 19th.

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In other Truist Financial news, Director Steven C. Voorhees purchased 10,000 shares of the firm’s stock in a transaction dated Friday, March 4th. The shares were acquired at an average price of $59.21 per share, with a total value of $592,100.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph M. Thompson sold 3,750 shares of the company’s stock in a transaction on Wednesday, January 19th. The shares were sold at an average price of $67.69, for a total value of $253,837.50. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Hanson & Doremus Investment Management lifted its stake in Truist Financial by 456.4% during the 4th quarter. Hanson & Doremus Investment Management now owns 434 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 356 shares in the last quarter. Elmwood Wealth Management Inc. acquired a new position in Truist Financial during the 4th quarter worth about $25,000. Reilly Financial Advisors LLC acquired a new position in Truist Financial during the 4th quarter worth about $28,000. Crewe Advisors LLC lifted its stake in Truist Financial by 61.1% during the 3rd quarter. Crewe Advisors LLC now owns 493 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 187 shares in the last quarter. Finally, Tower View Investment Management & Research LLC acquired a new position in Truist Financial during the 3rd quarter worth about $29,000. 71.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:TFC opened at $58.56 on Friday. Truist Financial has a 12-month low of $51.87 and a 12-month high of $68.95. The company has a market capitalization of $77.83 billion, a PE ratio of 13.10, a PEG ratio of 2.17 and a beta of 1.18. The business has a 50 day moving average of $62.17 and a two-hundred day moving average of $60.85. The company has a current ratio of 0.08, a quick ratio of 0.07 and a debt-to-equity ratio of 0.57.

Truist Financial (NYSE:TFC – Get Rating) last posted its quarterly earnings data on Tuesday, January 18th. The insurance provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.12. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Truist Financial had a return on equity of 12.36% and a net margin of 27.30%. During the same period in the previous year, the business earned $1.18 earnings per share. Equities research analysts predict that Truist Financial will post 4.79 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 1st. Shareholders of record on Friday, February 11th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, February 10th. Truist Financial’s payout ratio is currently 42.95%.

Truist Financial Company Profile (Get Rating)

Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing, and equipment financing.

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Analyst Recommendations for Truist Financial (NYSE:TFC)

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