Truist Financial (NYSE:TFC) Given New $47.00 Price Target at Barclays

Truist Financial (NYSE:TFC) had its target price reduced by Barclays from $51.00 to $47.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

TFC has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Citigroup reduced their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Raymond James cut Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.28.

Truist Financial Stock Down 1.5 %

Shares of Truist Financial stock opened at $35.36 on Monday. The company has a 50-day simple moving average of $40.99 and a two-hundred day simple moving average of $43.76. The stock has a market capitalization of $46.16 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. Truist Financial has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $0.90 EPS. On average, analysts anticipate that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 61.36%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TFC. Capital International Investors raised its position in shares of Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after buying an additional 18,712,246 shares during the last quarter. Norges Bank bought a new stake in Truist Financial in the 4th quarter valued at $402,828,000. FMR LLC lifted its stake in Truist Financial by 109.1% in the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after purchasing an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Truist Financial in the 4th quarter worth $198,051,000. Finally, Northern Trust Corp boosted its holdings in shares of Truist Financial by 20.5% during 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. 71.28% of the stock is owned by hedge funds and other 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.