Truist Financial’s (TFC) “Overweight” Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Truist Financial (NYSE:TFC) in a research note published on Tuesday, Benzinga reports. The firm currently has a $43.00 price objective on the insurance provider’s stock.

TFC has been the subject of several other reports. Wells Fargo & Company increased their price target on Truist Financial from $39.00 to $45.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $44.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, April 5th. Raymond James upped their price objective on Truist Financial from $34.00 to $41.00 and gave the stock an outperform rating in a research report on Friday, January 5th. StockNews.com cut Truist Financial from a hold rating to a sell rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada increased their price target on Truist Financial from $40.00 to $42.00 and gave the company an outperform rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $41.97.

Truist Financial Trading Up 0.5 %

NYSE TFC opened at $38.17 on Tuesday. The stock has a 50-day simple moving average of $36.90 and a 200 day simple moving average of $34.82. The company has a market capitalization of $50.94 billion, a PE ratio of -28.92, a P/E/G ratio of 2.04 and a beta of 1.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial has a 12 month low of $25.56 and a 12 month high of $39.29.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Research analysts forecast that Truist Financial will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.45%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Fonville Wealth Management LLC increased its stake in Truist Financial by 25.9% during the 1st quarter. Fonville Wealth Management LLC now owns 7,685 shares of the insurance provider’s stock worth $300,000 after acquiring an additional 1,580 shares during the period. Foster Victor Wealth Advisors LLC increased its stake in Truist Financial by 4.2% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 62,028 shares of the insurance provider’s stock worth $2,314,000 after acquiring an additional 2,494 shares during the period. Prestige Wealth Management Group LLC increased its stake in Truist Financial by 8.6% during the 1st quarter. Prestige Wealth Management Group LLC now owns 8,486 shares of the insurance provider’s stock worth $331,000 after acquiring an additional 675 shares during the period. YHB Investment Advisors Inc. bought a new position in Truist Financial during the 1st quarter worth $56,000. Finally, First National Trust Co increased its stake in Truist Financial by 116.8% during the 1st quarter. First National Trust Co now owns 209,225 shares of the insurance provider’s stock worth $8,156,000 after acquiring an additional 112,739 shares during the period. 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.