Truist Financial Co. (NYSE:TFC – Get Free Report) hit a new 52-week low on Friday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $34.58 and last traded at $34.76, with a volume of 1020560 shares changing hands. The stock had previously closed at $37.04.
Several other equities research analysts also recently issued reports on TFC. Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday. Morgan Stanley upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Compass Point boosted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.42.
Check Out Our Latest Stock Analysis on Truist Financial
Institutional Trading of Truist Financial
Several institutional investors have recently bought and sold shares of TFC. PBMares Wealth Management LLC lifted its position in Truist Financial by 0.8% in the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after acquiring an additional 224 shares in the last quarter. Koshinski Asset Management Inc. raised its position in Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after buying an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in Truist Financial by 3.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after acquiring an additional 227 shares during the period. FWG Holdings LLC boosted its holdings in shares of Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 234 shares during the last quarter. Finally, Ignite Planners LLC grew its stake in shares of Truist Financial by 1.4% in the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 246 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.
Truist Financial Price Performance
The stock has a market capitalization of $45.43 billion, a PE ratio of 10.45, a PEG ratio of 1.63 and a beta of 0.91. The firm’s fifty day moving average price is $43.97 and its two-hundred day moving average price is $44.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 net margin of 15.59% and a return on equity of 9.32%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. On average, equities analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.
Truist Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.98%. Truist Financial’s dividend payout ratio is currently 62.46%.
About Truist Financial
(Get Free Report)
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.
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