Truist Financial (NYSE:TFC) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Truist Financial (NYSE:TFC – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley cut their price target on Truist Financial from $59.00 to $56.00 and set an equal weight rating on the stock in a research note on Friday, January 20th. Wells Fargo & Company lowered their price target on Truist Financial to $57.00 in a report on Wednesday, December 14th. TheStreet raised shares of Truist Financial from a c+ rating to a b- rating in a report on Monday, January 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Truist Financial from a buy rating to a hold rating and dropped their target price for the company from $61.00 to $48.00 in a research report on Friday, January 6th. Finally, Robert W. Baird raised shares of Truist Financial from a neutral rating to an outperform rating and set a $53.00 price target for the company in a research report on Monday, March 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $51.58.

Truist Financial Trading Down 7.2 %

NYSE TFC opened at $30.56 on Thursday. Truist Financial has a 52 week low of $28.70 and a 52 week high of $61.10. The firm has a 50 day moving average of $45.85 and a two-hundred day moving average of $44.97. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $40.59 billion, a PE ratio of 6.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $2.08 dividend on an annualized basis and a yield of 6.81%. Truist Financial’s payout ratio is currently 46.95%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director David M. Ratcliffe bought 13,125 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was acquired at an average cost of $38.08 per share, with a total value of $499,800.00. Following the purchase, the director now owns 39,025 shares in the company, valued at approximately $1,486,072. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director David M. Ratcliffe purchased 13,125 shares of the stock in a transaction dated Friday, March 10th. The shares were acquired at an average cost of $38.08 per share, with a total value of $499,800.00. Following the purchase, the director now directly owns 39,025 shares in the company, valued at approximately $1,486,072. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the sale, the insider now directly owns 307,069 shares in the company, valued at approximately $15,061,734.45. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

Several hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC raised its holdings in Truist Financial by 1.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 23,403 shares of the insurance provider’s stock worth $1,019,000 after purchasing an additional 274 shares during the last quarter. National Pension Service raised its position in Truist Financial by 3.6% during the third quarter. National Pension Service now owns 1,992,619 shares of the insurance provider’s stock worth $87,615,000 after acquiring an additional 69,309 shares during the last quarter. Bailard Inc. lifted its holdings in shares of Truist Financial by 2.4% in the third quarter. Bailard Inc. now owns 48,433 shares of the insurance provider’s stock valued at $2,109,000 after purchasing an additional 1,133 shares in the last quarter. Stephens Inc. AR grew its position in shares of Truist Financial by 6.1% in the third quarter. Stephens Inc. AR now owns 232,952 shares of the insurance provider’s stock valued at $10,143,000 after purchasing an additional 13,348 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Truist Financial by 21.5% during the 2nd quarter. Captrust Financial Advisors now owns 962,495 shares of the insurance provider’s stock worth $45,651,000 after purchasing an additional 170,239 shares in the last quarter. 72.49% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Company Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.