Truist Financial (NYSE:TFC) Reaches New 1-Year High – Time to Buy?

Truist Financial Corporation (NYSE:TFC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $50.29 and last traded at $50.1120, with a volume of 222840 shares. The stock had previously closed at $49.89.

Analysts Set New Price Targets

TFC has been the subject of several research analyst reports. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Robert W. Baird reiterated a “neutral” rating and set a $52.00 price target on shares of Truist Financial in a report on Thursday. Evercore ISI increased their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. UBS Group set a $55.00 target price on shares of Truist Financial in a research note on Tuesday, October 21st. Finally, Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

Truist Financial Price Performance

The stock has a market cap of $63.60 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company’s fifty day simple moving average is $45.12 and its 200-day simple moving average is $44.36.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. As a group, sell-side analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, November 14th. Truist Financial’s payout ratio is presently 55.91%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the completion of the transaction, the director owned 10,153 shares in the company, valued at $471,606.85. This trade represents a 33.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth about $25,000. Aspect Partners LLC grew its stake in Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after buying an additional 268 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial during the third quarter worth approximately $28,000. Princeton Global Asset Management LLC bought a new position in shares of Truist Financial in the second quarter valued at approximately $30,000. Finally, Capital A Wealth Management LLC boosted its holdings in shares of Truist Financial by 1,189.5% in the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 678 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.