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

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

Other equities analysts have also issued reports about the stock. Barclays lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an equal weight rating in a research report on Tuesday, January 2nd. Morgan Stanley reiterated an equal weight rating and issued a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 22nd. Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a hold rating in a research report on Monday, April 8th. TheStreet lowered shares of Truist Financial from a b- rating to a c rating in a research report on Tuesday, February 20th. Finally, Bank of America upgraded shares of Truist Financial from a neutral rating to a buy rating and set a $43.00 target price on the stock in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $41.97.

Truist Financial Stock Performance

Shares of TFC opened at $38.17 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market cap of $50.94 billion, a PE ratio of -28.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The company’s 50 day simple moving average is $36.90 and its 200-day simple moving average is $34.82. 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 earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, equities analysts predict that Truist Financial will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 5.45%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction 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 transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC raised its stake in Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 1,731 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Truist Financial by 53.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after purchasing an additional 117,524 shares during the last quarter. International Assets Investment Management LLC raised its stake in Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares during the last quarter. Loudon Investment Management LLC grew its holdings in Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after buying an additional 20,490 shares during the period. Finally, Pathstone Family Office LLC grew its holdings in Truist Financial by 84.8% in the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock valued at $2,786,000 after buying an additional 44,659 shares during the period. Institutional investors and hedge funds 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.