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

Shares of Truist Financial Co. (NYSE:TFC) have been given a consensus recommendation of “Hold” by the fifteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $68.46.

TFC has been the topic of a number of recent research reports. Morgan Stanley boosted their price objective on Truist Financial from $68.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Monday, December 6th. Barclays boosted their price objective on Truist Financial from $64.00 to $72.00 in a research note on Monday, January 3rd. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $72.00 in a research note on Friday, October 1st. They noted that the move was a valuation call. UBS Group raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $77.00 in a research note on Wednesday, January 19th. Finally, Jefferies Financial Group boosted their price objective on Truist Financial from $61.00 to $66.00 and gave the stock a “hold” rating in a research note on Monday, October 11th.

In related news, EVP Joseph M. Thompson sold 3,750 shares of the stock in a transaction dated Wednesday, January 19th. The stock was sold at an average price of $67.69, for a total transaction of $253,837.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Baron Maguire sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $64.70, for a total value of $258,800.00. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

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A number of hedge funds and other institutional investors have recently modified their holdings of TFC. Hanson & Doremus Investment Management increased its holdings 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 purchasing an additional 356 shares during the period. Reilly Financial Advisors LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at about $28,000. Crewe Advisors LLC increased its holdings in shares of Truist Financial by 61.1% in the 3rd quarter. Crewe Advisors LLC now owns 493 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 187 shares during the last quarter. Tower View Investment Management & Research LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at about $29,000. Finally, Ancora Advisors LLC increased its holdings in shares of Truist Financial by 140.5% in the 2nd quarter. Ancora Advisors LLC now owns 546 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 319 shares during the last quarter. Institutional investors own 71.89% of the company’s stock.

Shares of TFC opened at $62.58 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.77. Truist Financial has a one year low of $47.69 and a one year high of $68.95. The stock has a market capitalization of $83.54 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.65 and a beta of 1.27. The stock has a 50 day moving average price of $61.18 and a 200 day moving average price of $59.45.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Tuesday, January 18th. The insurance provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.12. Truist Financial had a return on equity of 12.11% and a net margin of 25.94%. During the same quarter in the previous year, the business earned $1.18 earnings per share. On average, analysts predict that Truist Financial will post 5.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 1st. Investors of record on Friday, February 11th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, February 10th. Truist Financial’s payout ratio is 45.28%.

Truist Financial Company Profile

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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