Truist Financial (NYSE:TFC) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Truist Financial (NYSE:TFC) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other research firms have also recently commented on TFC. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Barclays lifted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. 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 report on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $50.22.

Truist Financial Stock Down 1.0 %

Shares of NYSE TFC opened at $35.30 on Friday. The stock has a fifty day moving average price of $42.36 and a 200 day moving average price of $44.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 12-month low of $33.56 and a 12-month high of $49.06. The company has a market cap of $46.08 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.63 and a beta of 0.91.

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

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.89%. Truist Financial’s payout ratio is currently 62.46%.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently made changes to their positions in TFC. Capital International Investors increased its position in Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after buying an additional 18,712,246 shares during the period. Geode Capital Management LLC grew its position in shares of Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after acquiring an additional 534,740 shares during the last quarter. Amundi increased its holdings in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares during the period. Northern Trust Corp lifted its position in Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Truist Financial by 13.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock valued at $465,827,000 after purchasing an additional 1,307,252 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.