Truist Financial (NYSE:TFC) Price Target Increased to $59.00 by Analysts at Morgan Stanley

Truist Financial (NYSE:TFCGet Rating) had its price objective boosted by Morgan Stanley from $55.00 to $59.00 in a report released on Monday morning, MarketBeat Ratings reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Other research analysts have also issued research reports about the company. StockNews.com upgraded Truist Financial from a hold rating to a buy rating in a research report on Wednesday, November 16th. Barclays decreased their target price on Truist Financial from $61.00 to $57.00 and set an equal weight rating on the stock in a research report on Wednesday, October 19th. Compass Point decreased their target price on Truist Financial to $45.00 in a research report on Thursday, October 20th. Evercore ISI lowered Truist Financial from an outperform rating to a neutral rating and decreased their target price for the company from $54.00 to $47.00 in a research report on Wednesday, October 19th. Finally, Piper Sandler upgraded Truist Financial from a neutral rating to an overweight rating and increased their target price for the company from $52.00 to $55.00 in a research report on Wednesday, September 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial has an average rating of Hold and an average target price of $55.09.

Truist Financial Trading Up 0.0 %

Truist Financial stock opened at $46.43 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Truist Financial has a 12 month low of $40.01 and a 12 month high of $68.95. The stock’s 50 day simple moving average is $44.58 and its two-hundred day simple moving average is $46.95. The firm has a market cap of $61.60 billion, a PE ratio of 10.65, a P/E/G ratio of 1.18 and a beta of 1.07.

Truist Financial (NYSE:TFCGet Rating) last released its quarterly earnings data on Tuesday, October 18th. The insurance provider reported $1.24 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.05). Truist Financial had a return on equity of 12.13% and a net margin of 26.16%. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same quarter in the prior year, the company posted $1.42 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts anticipate that Truist Financial will post 4.92 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Wednesday, November 9th. Truist Financial’s dividend payout ratio (DPR) is presently 47.71%.

Institutional Trading of Truist Financial

A number of hedge funds and other institutional investors have recently modified their holdings of TFC. Fairfield Bush & CO. acquired a new stake in shares of Truist Financial in the 1st quarter worth $25,000. Swaine & Leidel Wealth Services LLC purchased a new position in shares of Truist Financial during the 1st quarter worth $27,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Truist Financial by 555.8% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 528 shares during the period. Webster Bank N. A. grew its holdings in shares of Truist Financial by 88.5% during the 3rd quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 300 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new position in shares of Truist Financial during the 3rd quarter worth $35,000. 73.31% of the stock is owned by institutional investors and hedge funds.

About Truist Financial

(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 operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. The Consumer Banking and Wealth segment consists of Retail Community Banking, National Consumer Finance, Services, Payments, Wealth Management and Banking Products and Professional Services and Mortgage Banking.

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