Brokerages Set Truist Financial Co. (NYSE:TFC) PT at $50.79

Shares of Truist Financial Co. (NYSE:TFC) have received an average recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $51.16.

Several analysts have recently issued reports on the stock. Raymond James boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Compass Point upped their price target 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. Morgan Stanley upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Citigroup upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th.

Truist Financial Stock Down 1.5 %

Shares of NYSE TFC opened at $43.11 on Thursday. Truist Financial has a 52-week low of $34.51 and a 52-week high of $49.06. The firm has a fifty day moving average of $45.79 and a 200-day moving average of $44.67. The stock has a market capitalization of $56.27 billion, a PE ratio of 12.94, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Truist Financial will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.83%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors have recently modified their holdings of TFC. Capital International Investors raised its stake in shares of Truist Financial by 26.0% in 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 purchasing an additional 18,712,246 shares in the last quarter. Norges Bank acquired a new stake in shares of Truist Financial in the 4th quarter valued at about $402,828,000. FMR LLC raised its stake in shares of Truist Financial by 109.1% in the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock valued at $453,762,000 after purchasing an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Truist Financial in the 4th quarter valued at about $198,051,000. Finally, State Street Corp raised its stake in shares of 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 purchasing an additional 2,720,223 shares in the last quarter. 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.