Truist Financial (NYSE:TFC) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Truist Financial (NYSE:TFC) from a neutral rating to an outperform rating in a research report sent to investors on Wednesday, Marketbeat reports. They currently have $52.00 price target on the insurance provider’s stock, up from their previous price target of $48.00.

Other research analysts have also issued research reports about the company. Barclays upped their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Compass Point upped their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Stephens raised their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company raised their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Trading Down 1.5 %

NYSE TFC opened at $43.11 on Wednesday. The stock has a 50-day moving average of $45.79 and a 200-day moving average of $44.67. The firm has a market cap of $56.27 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 1-year low of $34.51 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 EPS. As a group, sell-side analysts forecast that Truist Financial will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Truist Financial in the 4th quarter worth $36,749,000. LifeWealth Investments LLC bought a new stake in shares of Truist Financial in the 4th quarter worth $318,000. Heck Capital Advisors LLC bought a new stake in shares of Truist Financial in the 4th quarter worth $314,000. Integrated Advisors Network LLC increased its holdings in shares of Truist Financial by 4.8% in the 4th quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider’s stock worth $274,000 after purchasing an additional 291 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Truist Financial in the 4th quarter worth $22,558,000. Institutional investors 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.