Truist Financial (NYSE:TFC) Upgraded to “Buy” by Compass Point

Compass Point upgraded shares of Truist Financial (NYSE:TFC) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have $42.00 price objective on the insurance provider’s stock, up from their prior price objective of $34.00.

Other equities research analysts also recently issued research reports about the company. Raymond James boosted their price objective on Truist Financial from $34.00 to $41.00 and gave the company an outperform rating in a report on Friday, January 5th. Barclays upped their price target on Truist Financial from $40.00 to $42.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Stephens upgraded Truist Financial from an equal weight rating to an overweight rating and upped their price target for the stock from $41.00 to $43.00 in a report on Tuesday, March 19th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $44.00 to $45.00 and gave the stock an outperform rating in a report on Friday, April 5th. Finally, Wells Fargo & Company upped 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. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $41.59.

Truist Financial Price Performance

TFC stock opened at $38.85 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $51.85 billion, a PE ratio of -35.97, a P/E/G ratio of 2.27 and a beta of 1.08. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29. The business’s fifty day moving average price is $36.76 and its 200 day moving average price is $34.70.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. On average, sell-side analysts anticipate that Truist Financial will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s 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 completion of the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Godsey & Gibb Inc. raised its stake in Truist Financial by 5.5% during the 1st quarter. Godsey & Gibb Inc. now owns 447,087 shares of the insurance provider’s stock valued at $17,427,000 after acquiring an additional 23,158 shares during the last quarter. Iowa State Bank raised its stake in Truist Financial by 59.2% during the 1st quarter. Iowa State Bank now owns 91,739 shares of the insurance provider’s stock valued at $3,576,000 after acquiring an additional 34,129 shares during the last quarter. Eads & Heald Wealth Management purchased a new stake in Truist Financial during the 1st quarter valued at approximately $233,000. Global Retirement Partners LLC raised its stake in Truist Financial by 9.8% during the 1st quarter. Global Retirement Partners LLC now owns 40,380 shares of the insurance provider’s stock valued at $1,574,000 after acquiring an additional 3,603 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Truist Financial by 23.7% during the 1st quarter. Venturi Wealth Management LLC now owns 9,142 shares of the insurance provider’s stock valued at $356,000 after acquiring an additional 1,750 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

About Truist Financial

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.