Truist Financial (NYSE:TFC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Truist Financial (NYSE:TFC) had its price objective lifted by Piper Sandler from $46.00 to $51.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

TFC has been the topic of several other research reports. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, UBS Group lifted their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.67.

Truist Financial Trading Up 2.1 %

NYSE:TFC opened at $47.17 on Tuesday. The company has a 50-day moving average price of $44.60 and a 200-day moving average price of $42.00. The stock has a market cap of $62.62 billion, a price-to-earnings ratio of -32.99, a P/E/G ratio of 1.91 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial has a 12 month low of $33.01 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Equities analysts predict that Truist Financial will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.41%. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Truist Financial

Hedge funds have recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial in the third quarter worth approximately $32,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the second quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial in the second quarter worth approximately $31,000. Finally, Fortitude Family Office LLC boosted its position in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the period. 71.28% of the stock is currently owned by institutional investors.

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.