Keefe, Bruyette & Woods Issues Positive Forecast for Truist Financial (NYSE:TFC) Stock Price

Truist Financial (NYSE:TFC) had its target price hoisted by Keefe, Bruyette & Woods from $53.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.

Other research analysts also recently issued research reports about the stock. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $63.00 to $54.00 in a research report on Tuesday, June 30th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $54.00 price target (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Finally, Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.72.

Truist Financial Price Performance

Shares of NYSE TFC opened at $50.92 on Monday. The stock has a market capitalization of $63.44 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 0.92 and a beta of 0.89. Truist Financial has a 12 month low of $40.78 and a 12 month high of $56.19. The firm’s 50 day simple moving average is $49.46 and its 200-day simple moving average is $49.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the previous year, the business posted $0.91 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Analysts expect that Truist Financial will post 4.51 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Institutional Investors Weigh In On Truist Financial

Several large investors have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Woodline Partners LP boosted its stake in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after purchasing an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Truist Financial during the 2nd quarter worth $575,000. AXA S.A. grew its holdings in shares of Truist Financial by 23.1% during the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after buying an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Truist Financial by 20.1% during the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after buying an additional 1,134 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.