Truist Financial (NYSE:TFC) Price Target Lowered to $46.00 at Stephens

Truist Financial (NYSE:TFC - Free Report) had its price target lowered by Stephens from $48.00 to $46.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider's stock.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird upgraded shares of Truist Financial from a "neutral" rating to an "outperform" rating and raised their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Morgan Stanley decreased their target price on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Barclays cut their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday. Citigroup dropped their target price on Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Hsbc Global Res upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Price Performance

TFC stock traded down $0.19 during mid-day trading on Monday, hitting $37.71. The stock had a trading volume of 509,123 shares, compared to its average volume of 8,114,159. The firm has a fifty day simple moving average of $40.41 and a 200 day simple moving average of $43.63. Truist Financial has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $49.22 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the business posted $0.90 EPS. As a group, research analysts forecast that Truist Financial will post 4 EPS for the current 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 paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.52%. Truist Financial's dividend payout ratio is currently 61.36%.

Hedge Funds Weigh In On Truist Financial

Several institutional investors have recently added to or reduced their stakes in the business. Hills Bank & Trust Co lifted its position in shares of Truist Financial by 2.4% during the 1st quarter. Hills Bank & Trust Co now owns 46,109 shares of the insurance provider's stock valued at $1,897,000 after acquiring an additional 1,094 shares during the period. Joel Isaacson & Co. LLC bought a new stake in Truist Financial in the first quarter valued at $213,000. TCV Trust & Wealth Management Inc. raised its holdings in shares of Truist Financial by 2.1% during the first quarter. TCV Trust & Wealth Management Inc. now owns 19,491 shares of the insurance provider's stock valued at $802,000 after purchasing an additional 400 shares during the period. Elevated Capital Advisors LLC boosted its position in shares of Truist Financial by 2.8% during the 1st quarter. Elevated Capital Advisors LLC now owns 18,124 shares of the insurance provider's stock worth $746,000 after purchasing an additional 495 shares in the last quarter. Finally, 3Chopt Investment Partners LLC grew its stake in shares of Truist Financial by 48.7% in the 1st quarter. 3Chopt Investment Partners LLC now owns 17,293 shares of the insurance provider's stock valued at $712,000 after buying an additional 5,660 shares during the period. 71.28% of the stock is 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.