Truist Financial (NYSE:TFC) Stock Rating Reaffirmed by Stephens

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

TFC has been the subject of several other research reports. Jefferies Financial Group increased their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a hold rating in a research report on Monday, April 8th. Barclays increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an equal weight rating in a research report on Tuesday, January 2nd. Compass Point raised shares of Truist Financial from a neutral rating to a buy rating and increased their price target for the company from $34.00 to $42.00 in a research report on Tuesday. Wells Fargo & Company increased their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Finally, Piper Sandler increased their price target on shares of Truist Financial from $37.00 to $38.00 and gave the company a neutral rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $41.59.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $38.85 on Tuesday. Truist Financial has a 52-week low of $25.56 and a 52-week high of $39.29. The company has a fifty day moving average of $36.76 and a 200-day moving average of $34.70. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated 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 transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently bought and sold shares of TFC. Norges Bank bought a new stake in Truist Financial during the 4th quarter valued at about $307,787,000. Parnassus Investments LLC bought a new stake in Truist Financial during the 4th quarter valued at about $95,049,000. North Reef Capital Management LP bought a new stake in Truist Financial during the 3rd quarter valued at about $66,804,000. Azora Capital LP bought a new stake in Truist Financial during the 4th quarter valued at about $72,498,000. Finally, Assenagon Asset Management S.A. increased its stake in Truist Financial by 342.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after purchasing an additional 1,955,448 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

About Truist Financial

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.