Truist Financial (NYSE:TFC - Free Report) had its price objective reduced by Piper Sandler from $45.00 to $41.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the insurance provider's stock.
Other equities analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Stephens lifted their target price on Truist Financial from $54.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Finally, HSBC upgraded Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.
Read Our Latest Research Report on TFC
Truist Financial Stock Down 0.6 %
TFC stock traded down $0.22 during mid-day trading on Monday, hitting $37.68. 6,388,693 shares of the company were exchanged, compared to its average volume of 8,136,592. The company has a market capitalization of $49.19 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The firm has a fifty day simple moving average of $40.41 and a 200 day simple moving average of $43.63. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a twelve month low of $33.56 and a twelve month high of $49.06.
Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm 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 company earned $0.90 earnings per share. On average, research analysts forecast that Truist Financial will post 4 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's payout ratio is 61.36%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Mather Group LLC. grew its holdings in shares of Truist Financial by 17.9% in the 1st quarter. Mather Group LLC. now owns 6,452 shares of the insurance provider's stock worth $266,000 after acquiring an additional 981 shares during the last quarter. Alta Advisers Ltd acquired a new position in shares of Truist Financial in the 1st quarter valued at $261,000. Smith Salley Wealth Management increased its stake in Truist Financial by 10.9% in the 1st quarter. Smith Salley Wealth Management now owns 10,347 shares of the insurance provider's stock worth $426,000 after purchasing an additional 1,015 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in Truist Financial by 12.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 12,122 shares of the insurance provider's stock worth $499,000 after buying an additional 1,297 shares during the period. Finally, J.Safra Asset Management Corp lifted its stake in Truist Financial by 20.6% during the first quarter. J.Safra Asset Management Corp now owns 5,266 shares of the insurance provider's stock valued at $217,000 after buying an additional 899 shares in the last quarter. Institutional investors own 71.28% of the company's stock.
Truist Financial Company Profile
(
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.
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