Brokerages Set Truist Financial Co. (NYSE:TFC) Target Price at $51.16

Shares of Truist Financial Co. (NYSE:TFC) have been given a consensus rating of “Moderate Buy” by the twenty-two research firms that are currently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $50.68.

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Compass Point lifted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Stephens increased their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TFC. Capital International Investors raised its position in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Norges Bank bought a new stake in shares of Truist Financial during the 4th quarter valued at about $402,828,000. FMR LLC grew its holdings in shares of Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after purchasing an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $198,051,000. Finally, State Street Corp raised its stake in Truist Financial by 4.6% in the third 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. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Down 2.3 %

Truist Financial stock opened at $40.46 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $52.81 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The firm’s 50-day simple moving average is $44.78 and its 200 day simple moving average is $44.44.

Truist Financial (NYSE:TFC) last released its earnings results 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. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. Research analysts predict that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.14%. Truist Financial’s dividend payout ratio is currently 62.46%.

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.