Truist Financial (NYSE:TFC) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Truist Financial (NYSE:TFC - Free Report) from a sell rating to a hold rating in a report published on Sunday.

Several other research firms have also recently weighed in on TFC. Citigroup reduced their price objective 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. Morgan Stanley reduced their price target on 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. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Tuesday, January 21st. Barclays increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Truist Financial presently has an average rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Trading Up 0.7 %

Shares of Truist Financial stock traded up $0.27 during trading hours on Friday, hitting $37.41. The company's stock had a trading volume of 820,554 shares, compared to its average volume of 8,111,043. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50 day moving average of $40.59 and a 200 day moving average of $43.66. Truist Financial has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a market capitalization of $48.84 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter in the prior year, the company earned $0.90 earnings per share. Analysts predict that Truist Financial will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.56%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors raised its stake in Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Truist Financial by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after buying an additional 534,740 shares in the last quarter. Amundi boosted its stake 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 valued at $1,040,718,000 after buying an additional 1,450,323 shares during the period. Northern Trust Corp grew its position in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after buying an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Truist Financial by 13.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock worth $465,827,000 after acquiring an additional 1,307,252 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.

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.