Truist Financial Co. (NYSE:TFC) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Truist Financial Co. (NYSE:TFC - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $47.83.

Several research firms recently weighed in on TFC. Keefe, Bruyette & Woods reduced their price target on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday. StockNews.com raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Sunday. Hsbc Global Res raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Argus set a $43.00 price objective on shares of Truist Financial in a research report on Monday. Finally, Morgan Stanley lowered 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 research report on Monday, April 7th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Capital International Investors grew its position in Truist Financial by 26.0% in 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 acquiring an additional 18,712,246 shares in the last quarter. Norges Bank acquired a new stake in Truist Financial in the fourth quarter valued at approximately $402,828,000. FMR LLC grew its position in Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock valued at $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Truist Financial in the fourth quarter valued at approximately $198,051,000. Finally, Northern Trust Corp grew its position in Truist Financial by 20.5% in the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after acquiring an additional 2,452,239 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

Shares of Truist Financial stock traded up $1.43 during trading hours on Friday, reaching $37.77. The stock had a trading volume of 1,893,753 shares, compared to its average volume of 9,502,230. The stock's 50 day moving average is $40.79 and its 200 day moving average is $43.71. The firm has a market capitalization of $49.30 billion, a PE ratio of 11.34, a PEG ratio of 1.63 and a beta of 0.91. Truist Financial has a twelve month low of $33.56 and a twelve month 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.

Truist Financial (NYSE:TFC - Get Free Report) last issued 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 business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities analysts expect that Truist Financial will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.51%. Truist Financial's payout ratio is 61.36%.

Truist Financial Company Profile

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.