Truist Financial Co. (NYSE:TFC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Truist Financial Co. (NYSE:TFCGet Free Report) have earned an average recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $49.89.

Several brokerages have commented on TFC. Royal Bank of Canada boosted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Compass Point boosted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler increased their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd.

Get Our Latest Report on Truist Financial

Insider Buying and Selling at Truist Financial

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

Institutional Trading of Truist Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RMR Wealth Builders lifted its holdings in shares of Truist Financial by 1.7% during the fourth quarter. RMR Wealth Builders now owns 19,165 shares of the insurance provider’s stock worth $831,000 after buying an additional 324 shares during the last quarter. ARS Wealth Advisors Group LLC increased its position in Truist Financial by 5.1% during the fourth quarter. ARS Wealth Advisors Group LLC now owns 6,650 shares of the insurance provider’s stock worth $288,000 after acquiring an additional 322 shares during the period. Founders Grove Wealth Partners LLC acquired a new position in Truist Financial during the 4th quarter valued at $356,000. Avity Investment Management Inc. boosted its holdings in Truist Financial by 15.6% in the 4th quarter. Avity Investment Management Inc. now owns 280,643 shares of the insurance provider’s stock valued at $12,174,000 after purchasing an additional 37,808 shares during the period. Finally, Laurel Wealth Advisors LLC grew its position in Truist Financial by 1.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 55,838 shares of the insurance provider’s stock worth $2,422,000 after purchasing an additional 965 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $43.87 on Wednesday. Truist Financial has a 12 month low of $34.23 and a 12 month high of $49.06. The firm has a market capitalization of $58.24 billion, a PE ratio of -30.68, a P/E/G ratio of 1.88 and a beta of 1.08. The company’s 50 day simple moving average is $45.41 and its 200 day simple moving average is $43.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFCGet Free Report) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. As a group, equities research analysts forecast that Truist Financial will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.74%. Truist Financial’s dividend payout ratio is presently -145.45%.

About Truist Financial

(Get Free Report

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.

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Analyst Recommendations for Truist Financial (NYSE:TFC)

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