Truist Financial (NYSE:TFC) Lowered to Sell at ValuEngine

ValuEngine lowered shares of Truist Financial (NYSE:TFC) from a hold rating to a sell rating in a research report released on Wednesday morning, ValuEngine reports.

A number of other research analysts have also recently commented on TFC. Bank of America upped their price target on Truist Financial from $53.00 to $56.00 and gave the company a buy rating in a research report on Friday, October 18th. Goldman Sachs Group started coverage on Truist Financial in a research report on Monday. They set a buy rating on the stock. Jefferies Financial Group raised Truist Financial from a hold rating to a buy rating and upped their price target for the company from $52.00 to $58.00 in a research report on Tuesday, October 8th. Wells Fargo & Co set a $55.00 price target on Truist Financial and gave the company a buy rating in a research report on Friday, August 16th. Finally, Morgan Stanley started coverage on Truist Financial in a research report on Tuesday. They set a hold rating and a $55.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Truist Financial currently has an average rating of Hold and an average target price of $54.83.

NYSE:TFC traded up $1.62 during trading on Wednesday, reaching $55.30. The company’s stock had a trading volume of 1,426,933 shares, compared to its average volume of 5,226,315. The firm has a market cap of $41.93 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a 50 day moving average of $54.32 and a 200-day moving average of $50.82. Truist Financial has a 12 month low of $40.68 and a 12 month high of $55.66.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. Truist Financial had a return on equity of 12.25% and a net margin of 23.17%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company earned $1.01 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts forecast that Truist Financial will post 4.26 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 3.26%. Truist Financial’s dividend payout ratio (DPR) is 44.44%.

In other Truist Financial news, VP Brantley J. Standridge sold 8,580 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $54.90, for a total value of $471,042.00. Following the transaction, the vice president now directly owns 12,059 shares in the company, valued at approximately $662,039.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,285 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.64, for a total value of $225,562.40. The disclosure for this sale can be found here. Insiders have sold a total of 25,298,269 shares of company stock worth $725,406,049 in the last three months. 0.49% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in TFC. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Truist Financial during the 2nd quarter valued at about $26,000. Proffitt & Goodson Inc. grew its position in Truist Financial by 93.4% during the 3rd quarter. Proffitt & Goodson Inc. now owns 586 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 283 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Truist Financial during the 3rd quarter worth approximately $40,000. Prime Capital Investment Advisors LLC grew its position in Truist Financial by 200.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 750 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 500 shares during the last quarter. Finally, Delta Asset Management LLC TN grew its position in Truist Financial by 83.6% during the 3rd quarter. Delta Asset Management LLC TN now owns 773 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 352 shares during the last quarter. Institutional investors and hedge funds own 71.79% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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