Truist Financial (NYSE:TFC) Downgraded by StockNews.com

StockNews.com downgraded shares of Truist Financial (NYSE:TFCFree Report) from a hold rating to a sell rating in a research note published on Wednesday.

TFC has been the topic of several other research reports. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $42.00 to $44.00 and gave the stock an outperform rating in a report on Friday, January 19th. UBS Group increased their price target on shares of Truist Financial from $37.00 to $45.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Raymond James increased their price target on shares of Truist Financial from $34.00 to $41.00 and gave the stock an outperform rating in a report on Friday, January 5th. TheStreet upgraded shares of Truist Financial from a c+ rating to a b- rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an outperform rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $39.87.

View Our Latest Stock Report on Truist Financial

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $35.84 on Wednesday. The firm has a market capitalization of $47.80 billion, a P/E ratio of -33.19, a PEG ratio of 1.50 and a beta of 1.09. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average price of $36.44 and a 200 day moving average price of $32.15. Truist Financial has a 52 week low of $25.56 and a 52 week high of $49.32.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period last year, the firm posted $1.30 EPS. Sell-side analysts expect that Truist Financial will post 3.38 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.80%. Truist Financial’s dividend payout ratio is currently -192.59%.

Institutional Investors Weigh In On Truist Financial

Institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. purchased a new position in Truist Financial in the 1st quarter valued at $25,000. United Bank lifted its holdings in Truist Financial by 4.1% in the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after purchasing an additional 2,938 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Truist Financial by 33.3% in the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after purchasing an additional 6,593 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Truist Financial by 3.3% in the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after purchasing an additional 738 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in Truist Financial by 8.1% in the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after purchasing an additional 4,234 shares in the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.

Truist Financial Company Profile

(Get Free Report)

Truist Financial Corporation, a holding 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.

Further Reading

Analyst Recommendations for Truist Financial (NYSE:TFC)

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