Brokerages Set Truist Financial Co. (NYSE:TFC) Target Price at $51.16

Truist Financial Co. (NYSE:TFC) has earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $50.68.

TFC has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and increased their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, Stephens lifted their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Chancellor Financial Group WB LP bought a new position in shares of Truist Financial in the 4th quarter worth $329,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Truist Financial by 73.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 853,013 shares of the insurance provider’s stock valued at $37,004,000 after buying an additional 360,227 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Truist Financial during the fourth quarter valued at about $446,000. Anchor Pointe Wealth Management LLC bought a new stake in shares of Truist Financial during the fourth quarter worth about $215,000. Finally, Aegis Wealth Management LLC acquired a new stake in shares of Truist Financial in the 4th quarter worth about $316,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 2.3 %

NYSE TFC opened at $40.46 on Monday. The company has a market cap of $52.81 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial has a twelve month low of $35.09 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average is $44.78 and its 200 day moving average is $44.44.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

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.