Truist Financial (NYSE:TFC) Price Target Increased to $40.50 by Analysts at JPMorgan Chase & Co.

Truist Financial (NYSE:TFC) had its price objective raised by JPMorgan Chase & Co. from $39.50 to $40.50 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

A number of other analysts also recently issued reports on the stock. UBS Group boosted their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a buy rating in a report on Friday, April 5th. TheStreet downgraded shares of Truist Financial from a b- rating to a c rating in a report on Tuesday, February 20th. Citigroup upped their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Morgan Stanley reaffirmed an equal weight rating and set a $43.00 price target on shares of Truist Financial in a report on Monday, April 22nd. Finally, Royal Bank of Canada upped their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an outperform rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of Moderate Buy and a consensus target price of $41.88.

Truist Financial Trading Up 1.3 %

NYSE TFC opened at $38.05 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29. The firm has a 50-day moving average price of $37.03 and a two-hundred day moving average price of $35.05.

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 analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, equities analysts predict that Truist Financial will post 3.28 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.47%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following 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 legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at $29,000. Rise Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at $32,000. Missouri Trust & Investment Co boosted its stake in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Northwest Financial Advisors bought a new position in Truist Financial during the fourth quarter worth $34,000. Finally, Morton Brown Family Wealth LLC boosted its stake in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares in the last quarter. 71.28% of the stock is owned by 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.