Truist Financial (NYSE:TFC) Upgraded at StockNews.com

StockNews.com upgraded shares of Truist Financial (NYSE:TFC) from a sell rating to a hold rating in a research report released on Wednesday.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company cut their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Citigroup reduced their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Keefe, Bruyette & Woods dropped their price objective on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.06.

Truist Financial Stock Performance

NYSE:TFC opened at $38.88 on Wednesday. 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 has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm’s fifty day simple moving average is $38.86 and its 200-day simple moving average is $43.30. The stock has a market cap of $50.91 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 period last year, the company posted $0.90 earnings per share. Analysts expect that Truist Financial will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio (DPR) is 61.36%.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently bought and sold shares of TFC. Capital International Investors lifted its holdings in shares of 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 acquiring an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC grew its stake 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 raised its holdings in shares of Truist Financial by 6.5% during the 4th 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 lifted its position 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 worth $626,154,000 after acquiring an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Truist Financial by 13.9% in the fourth 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 valued at $465,827,000 after acquiring an additional 1,307,252 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.