Compass Point Boosts Truist Financial (NYSE:TFC) Price Target to $47.00

Truist Financial (NYSE:TFC) had its price target increased by Compass Point from $46.00 to $47.00 in a report released on Wednesday.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Stephens restated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Argus boosted their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Hold” and an average price target of $45.97.

Truist Financial Stock Performance

Shares of TFC opened at $44.51 on Wednesday. The stock has a market capitalization of $59.55 billion, a P/E ratio of -33.72, a P/E/G ratio of 1.78 and a beta of 1.05. Truist Financial has a 1 year low of $26.95 and a 1 year high of $45.31. The company’s fifty day moving average is $42.61 and its two-hundred day moving average is $40.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. On average, sell-side analysts predict that Truist Financial will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.67%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Truist Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in Truist Financial during the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Truist Financial during the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial during the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial during the 2nd quarter worth approximately $31,000. Finally, Rise Advisors LLC acquired a new stake in Truist Financial during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

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.