Truist Financial (NYSE:TFC) Price Target Raised to $51.00

Truist Financial (NYSE:TFC) had its target price upped by Barclays from $47.00 to $51.00 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

TFC has been the topic of several other reports. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group boosted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens reissued an “overweight” rating and issued a $54.00 target price on shares of Truist Financial in a report on Thursday, January 2nd. Finally, Citigroup boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.89.

Truist Financial Price Performance

TFC opened at $43.93 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial has a 52-week low of $34.23 and a 52-week high of $49.06. The stock has a market capitalization of $58.32 billion, a PE ratio of -30.72, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The stock’s 50 day moving average price is $45.34 and its 200-day moving average price is $43.25.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. On average, equities research analysts predict that Truist Financial will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fulton Bank N.A. raised its stake in Truist Financial by 3.0% during the 4th quarter. Fulton Bank N.A. now owns 61,183 shares of the insurance provider’s stock valued at $2,654,000 after purchasing an additional 1,771 shares during the period. International Assets Investment Management LLC purchased a new position in Truist Financial during the 4th quarter valued at approximately $1,184,000. Bangor Savings Bank grew its holdings in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares in the last quarter. Neville Rodie & Shaw Inc. grew its holdings in Truist Financial by 17.9% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 37,468 shares of the insurance provider’s stock valued at $1,626,000 after buying an additional 5,695 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in Truist Financial by 9.5% during the 4th quarter. CWA Asset Management Group LLC now owns 49,000 shares of the insurance provider’s stock valued at $2,126,000 after buying an additional 4,267 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

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.