Truist Financial (NYSE:TFC) Given New $51.00 Price Target at Barclays

Truist Financial (NYSE:TFC - Free Report) had its price target hoisted by Barclays from $47.00 to $51.00 in a report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the insurance provider's stock.

A number of other research firms also recently issued reports on TFC. UBS Group lifted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a "buy" rating in a report on Friday, October 18th. Compass Point lifted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Piper Sandler lifted their target price on Truist Financial from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their target price on Truist Financial from $43.50 to $47.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.39.

Truist Financial Stock Up 0.0 %

TFC traded up $0.01 during trading on Monday, hitting $44.11. The company had a trading volume of 6,246,420 shares, compared to its average volume of 5,485,447. The company has a market capitalization of $58.56 billion, a PE ratio of -30.85, a PEG ratio of 1.88 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial has a one year low of $34.23 and a one year high of $49.06. The firm's 50-day moving average price is $45.31 and its 200 day moving average price is $43.20.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, equities analysts expect that Truist Financial will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.72%. Truist Financial's dividend payout ratio is currently -145.45%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company's stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company's stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in TFC. Neville Rodie & Shaw Inc. raised its holdings in Truist Financial by 17.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 37,468 shares of the insurance provider's stock valued at $1,626,000 after acquiring an additional 5,695 shares in the last quarter. CWA Asset Management Group LLC increased its position in shares of Truist Financial by 9.5% in the fourth quarter. CWA Asset Management Group LLC now owns 49,000 shares of the insurance provider's stock worth $2,126,000 after purchasing an additional 4,267 shares during the period. First City Capital Management Inc. raised its stake in Truist Financial by 3.6% in the fourth quarter. First City Capital Management Inc. now owns 15,101 shares of the insurance provider's stock valued at $655,000 after purchasing an additional 520 shares in the last quarter. GAMMA Investing LLC lifted its position in Truist Financial by 7.1% during the fourth quarter. GAMMA Investing LLC now owns 26,040 shares of the insurance provider's stock worth $1,130,000 after purchasing an additional 1,732 shares during the period. Finally, Versant Capital Management Inc grew its stake in Truist Financial by 56.1% during the fourth quarter. Versant Capital Management Inc now owns 1,313 shares of the insurance provider's stock worth $57,000 after buying an additional 472 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.