Truist Financial (NYSE:TFC) Raised to Hold at StockNews.com

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

Several other research firms have also recently weighed in on TFC. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Stephens boosted their price objective 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. Finally, Morgan Stanley decreased their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $50.22.

Truist Financial Stock Down 0.3 %

Shares of Truist Financial stock opened at $35.88 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average of $41.21 and a two-hundred day moving average of $43.81. Truist Financial has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a market capitalization of $46.83 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate 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 quarter in the prior year, the company earned $0.90 earnings per share. As a group, equities analysts predict that Truist Financial will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is presently 61.36%.

Institutional Investors Weigh In On Truist Financial

Several hedge funds have recently added to or reduced their stakes in TFC. World Investment Advisors LLC grew its stake in Truist Financial by 19.4% in the 3rd quarter. World Investment Advisors LLC now owns 14,486 shares of the insurance provider’s stock valued at $620,000 after buying an additional 2,355 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in Truist Financial in the 3rd quarter worth about $1,960,000. Wilmington Savings Fund Society FSB raised its stake in Truist Financial by 28.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 323,849 shares of the insurance provider’s stock worth $13,851,000 after purchasing an additional 71,393 shares in the last quarter. Tidal Investments LLC boosted its holdings in Truist Financial by 6.9% in the 3rd quarter. Tidal Investments LLC now owns 62,803 shares of the insurance provider’s stock valued at $2,686,000 after purchasing an additional 4,029 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Truist Financial by 27.1% during the 3rd quarter. Synovus Financial Corp now owns 556,243 shares of the insurance provider’s stock worth $23,791,000 after purchasing an additional 118,692 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.