Truist Financial (NYSE:TFC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Truist Financial (NYSE:TFCFree Report) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other research analysts have also recently weighed in on TFC. Citigroup lifted their price objective on Truist Financial from $42.00 to $45.00 and gave the company a buy rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $39.50 to $40.50 and gave the company a neutral rating in a research report on Wednesday, May 1st. Compass Point raised Truist Financial from a neutral rating to a buy rating and lifted their price objective for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Stephens lifted their price objective on Truist Financial from $43.00 to $47.00 and gave the company an overweight rating in a research report on Thursday, May 16th. Finally, Wells Fargo & Company lifted their price objective on Truist Financial from $39.00 to $45.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $43.17.

Read Our Latest Analysis on Truist Financial

Truist Financial Trading Down 1.2 %

Shares of NYSE:TFC opened at $36.65 on Tuesday. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of -27.77, a PEG ratio of 1.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50-day simple moving average is $38.23 and its two-hundred day simple moving average is $36.67. Truist Financial has a 52-week low of $26.57 and a 52-week high of $40.51.

Truist Financial (NYSE:TFCGet Free Report) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the firm posted $1.09 earnings per share. Analysts expect that Truist Financial will post 3.33 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date was Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Several large investors have recently modified their holdings of the stock. Valmark Advisers Inc. boosted its holdings in Truist Financial by 2.2% during the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 277 shares during the period. Texas Yale Capital Corp. boosted its holdings in Truist Financial by 2.4% during the 1st quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock valued at $472,000 after acquiring an additional 280 shares during the period. Whalen Wealth Management Inc. boosted its holdings in Truist Financial by 4.8% during the 1st quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock valued at $247,000 after acquiring an additional 288 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in Truist Financial by 19.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock valued at $70,000 after acquiring an additional 290 shares during the period. Finally, St. Johns Investment Management Company LLC boosted its holdings in Truist Financial by 0.9% during the 4th quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock valued at $1,191,000 after acquiring an additional 296 shares during the period. Institutional investors own 71.28% 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.

Further Reading

Analyst Recommendations for Truist Financial (NYSE:TFC)

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