Truist Financial (NYSE:TFC) Reaches New 1-Year High at $38.55

Truist Financial Co. (NYSE:TFCGet Free Report)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $38.55 and last traded at $38.03, with a volume of 817167 shares. The stock had previously closed at $38.05.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TFC. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Barclays raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley lifted their price target on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.47.

Check Out Our Latest Stock Report on Truist Financial

Truist Financial Trading Down 0.9 %

The company’s fifty day moving average is $36.31 and its 200-day moving average is $33.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $50.30 billion, a PE ratio of -34.90, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07.

Truist Financial (NYSE:TFCGet Free Report) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company earned $1.30 earnings per share. On average, analysts anticipate that Truist Financial Co. will post 3.35 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.52%. Truist Financial’s payout ratio is currently -192.59%.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in shares of Truist Financial during the first quarter worth about $25,000. West Tower Group LLC acquired a new position in Truist Financial in the 4th quarter valued at about $29,000. Missouri Trust & Investment Co boosted its holdings in 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 last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $32,000. Finally, Northwest Financial Advisors acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 71.11% of the company’s stock.

About Truist Financial

(Get Free Report)

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.

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