Truist Financial (NYSE:TFC) Price Target Increased to $41.00 by Analysts at HSBC

Truist Financial (NYSE:TFC) had its price target raised by HSBC from $40.00 to $41.00 in a research note released on Wednesday, Benzinga reports. They currently have a hold rating on the insurance provider’s stock.

TFC has been the subject of several other research reports. Piper Sandler raised their target price on Truist Financial from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Friday, January 19th. TheStreet downgraded Truist Financial from a b- rating to a c rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the stock a neutral rating in a research report on Wednesday, May 1st. Jefferies Financial Group lifted their target price 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. Finally, Morgan Stanley reissued an equal weight rating and issued a $43.00 price target on shares of Truist Financial in a report on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $42.70.

Truist Financial Stock Performance

NYSE TFC traded up $0.23 during trading hours on Wednesday, reaching $39.10. 6,524,385 shares of the company were exchanged, compared to its average volume of 9,391,715. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $52.18 billion, a P/E ratio of -29.62, a P/E/G ratio of 2.03 and a beta of 1.07. The business’s 50 day simple moving average is $37.43 and its 200-day simple moving average is $35.42. Truist Financial has a 1 year low of $26.49 and a 1 year high of $40.35.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share 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 firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the business earned $1.09 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities research analysts expect that Truist Financial will post 3.3 earnings per share for the current year.

Truist Financial Dividend Announcement

The company 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 dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.32%. Truist Financial’s payout ratio is currently -157.58%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial 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 owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

A number of institutional investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Truist Financial during the third quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the first quarter worth about $29,000. Operose Advisors LLC purchased a new stake in shares of Truist Financial during the third quarter worth about $31,000. Missouri Trust & Investment Co raised its stake in Truist Financial by 227.2% during 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 period. Finally, Rise Advisors LLC purchased a new position in Truist Financial in the 1st quarter worth approximately $32,000. 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.