Truist Financial (NYSE:TFC) Rating Reiterated by Stephens

Stephens restated their overweight rating on shares of Truist Financial (NYSE:TFC) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $43.00 target price on the insurance provider’s stock.

A number of other equities analysts have also issued reports on the stock. Morgan Stanley reiterated an equal weight rating and set a $43.00 target price on shares of Truist Financial in a research report on Monday. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, April 5th. Compass Point upgraded shares of Truist Financial from a neutral rating to a buy rating and increased their price objective for the company from $34.00 to $42.00 in a report on Tuesday. StockNews.com lowered shares of Truist Financial from a hold rating to a sell rating in a report on Thursday, March 28th. Finally, HSBC increased their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the company a hold rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $41.97.

Truist Financial Price Performance

Shares of TFC stock opened at $37.98 on Tuesday. Truist Financial has a 1 year low of $25.56 and a 1 year high of $39.29. The firm’s 50 day moving average is $36.86 and its 200-day moving average is $34.75. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business earned $1.09 earnings per share. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, research analysts expect that Truist Financial will post 3.27 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is presently -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Truist Financial by 0.3% during the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after acquiring an additional 365,871 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after acquiring an additional 1,458,248 shares during the period. Royal Bank of Canada raised its holdings in shares of Truist Financial by 5.0% during the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after acquiring an additional 732,801 shares during the period. Morgan Stanley raised its holdings in shares of Truist Financial by 0.3% during the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after acquiring an additional 39,510 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Truist Financial by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after acquiring an additional 883,416 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Company Profile

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.