Truist Financial (NYSE:TFC) Lowered to Market Perform Rating by Raymond James

Raymond James lowered shares of Truist Financial (NYSE:TFC) from an outperform rating to a market perform rating in a research report report published on Wednesday, MarketBeat.com reports.

TFC has been the subject of a number of other reports. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Compass Point upped their target price 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. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Stephens upped their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Barclays lifted their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $50.42.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $34.80 on Wednesday. The stock has a market capitalization of $45.43 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.63 and a beta of 0.91. The firm’s 50-day moving average price is $43.97 and its two-hundred day moving average price is $44.30. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 1-year low of $33.71 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.81 EPS. On average, equities analysts predict that Truist Financial will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 5.98%. Truist Financial’s payout ratio is 62.46%.

Institutional Trading of Truist Financial

Large investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying an additional 971 shares during the period. Principal Financial Group Inc. boosted its stake in Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares during the period. Country Club Bank increased its holdings in Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after purchasing an additional 39,949 shares in the last quarter. David Wealth Management LLC acquired a new stake in shares of Truist Financial in the 4th quarter valued at about $2,354,000. Finally, Glass Wealth Management Co LLC lifted its holdings in shares of Truist Financial by 9.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after purchasing an additional 5,900 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

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.