Truist Financial (NYSE:TFC) Earns “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Truist Financial (NYSE:TFC) in a report released on Monday morning, Benzinga reports. Morgan Stanley currently has a $43.00 target price on the insurance provider’s stock.

Several other research analysts have also recently issued reports on the company. Stephens raised Truist Financial from an equal weight rating to an overweight rating and lifted their target price for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. Barclays lifted their target price on Truist Financial from $40.00 to $42.00 and gave the company an equal weight rating in a research report on Tuesday, January 2nd. Raymond James lifted their target price on Truist Financial from $34.00 to $41.00 and gave the company an outperform rating in a research report on Friday, January 5th. StockNews.com lowered Truist Financial from a hold rating to a sell rating in a report on Thursday, March 28th. Finally, HSBC boosted their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a hold rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $41.97.

Truist Financial Trading Down 0.1 %

Shares of Truist Financial stock opened at $38.79 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial has a 52 week low of $25.56 and a 52 week high of $39.29. The stock has a 50 day moving average price of $36.83 and a two-hundred day moving average price of $34.73. The stock has a market capitalization of $51.77 billion, a PE ratio of -29.39, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. As a group, equities analysts anticipate that Truist Financial will post 3.27 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.36%. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new stake in Truist Financial in the 3rd quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at approximately $29,000. Operose Advisors LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at approximately $31,000. Missouri Trust & Investment Co lifted its stake in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.