Analysts Set Truist Financial Co. (NYSE:TFC) PT at $51.16

Shares of Truist Financial Co. (NYSE:TFC - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-two research firms that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $50.79.

A number of equities analysts have weighed in on TFC shares. Compass Point increased their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. HSBC upgraded shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on Truist Financial from $55.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Piper Sandler lifted their price target 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, Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th.

Institutional Trading of Truist Financial

Institutional investors have recently made changes to their positions in the business. Capital International Investors grew its holdings in Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. State Street Corp increased its holdings in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider's stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after purchasing an additional 534,740 shares during the last quarter. Amundi lifted its position in shares of Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock worth $1,040,718,000 after buying an additional 1,450,323 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after buying 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 Stock Down 1.3 %

NYSE TFC traded down $0.56 on Monday, reaching $41.42. The company had a trading volume of 4,854,267 shares, compared to its average volume of 7,377,105. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company's fifty day moving average is $45.00 and its 200 day moving average is $44.43. Truist Financial has a 52-week low of $35.09 and a 52-week high of $49.06. The stock has a market capitalization of $54.07 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.81 earnings per share. Sell-side analysts anticipate that Truist Financial will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. Truist Financial's payout ratio is 62.46%.

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.