Truist Financial (NYSE:TFC) Price Target Lowered to $44.00 at Citigroup

Truist Financial (NYSE:TFC) had its price target reduced by Citigroup from $51.00 to $44.00 in a research report released on Monday,Benzinga reports. Citigroup currently has a neutral rating on the insurance provider’s stock.

A number of other research analysts have also issued reports on TFC. Compass Point increased 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. Piper Sandler raised their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Raymond James raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Price Performance

NYSE:TFC opened at $41.97 on Monday. Truist Financial has a 1-year low of $35.09 and a 1-year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $54.79 billion, a PE ratio of 12.60, a P/E/G ratio of 1.63 and a beta of 1.08. The firm has a fifty day simple moving average of $45.00 and a 200 day simple moving average of $44.43.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.96%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bangor Savings Bank grew its holdings in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth about $26,000. Navigoe LLC bought a new position in shares of Truist Financial during the 4th quarter valued at approximately $26,000. Curio Wealth LLC bought a new position in Truist Financial during the fourth quarter worth about $45,000. Finally, True Wealth Design LLC bought a new position in Truist Financial in the 3rd quarter worth approximately $51,000. Institutional investors 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.