Truist Financial Corporation (NYSE:TFC) shares traded 3.27% higher at $30.33 on Wall Street last session.
In accordance with the data, 27 analysts cover Truist Financial Corporation (NYSE:TFC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $29.50, we find $36.25. Given the previous closing price of $29.37, this indicates a potential upside of 23.43 percent. TFC stock price is now -3.56% away from the 50-day moving average and -18.90% away from the 200-day moving average. The market capitalization of the company currently stands at $40.47B.
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It has been rated a hold by 16 analysts and a buy by 7. Brokers who have rated the stock have averaged $36.53 as their price target over the next twelve months.
With the price target reduced from $37 to $32, Jefferies Downgraded its rating from Buy to Hold for Truist Financial Corporation (NYSE: TFC).
In other news, PATTON CHARLES A, Director bought 1,332 shares of the company’s stock on May 03. The stock was bought for $25,308 at an average price of $19.00. Upon completion of the transaction, the Director now directly owns 5,000 shares in the company, valued at $0.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 02, Director PATTON CHARLES A bought 3,668 shares of the business’s stock. A total of $69,685 was incurred on buying the stock at an average price of $19.00. This leaves the insider owning 3,668 shares of the company worth $0.11 million. Insiders disposed of 353,889 shares of company stock worth roughly $10.73 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TFC stock. A new stake in Truist Financial Corporation shares was purchased by GOLDENTREE ASSET MANAGEMENT LP during the first quarter worth $52,024,000. PORTSIDE WEALTH GROUP, LLC invested $38,288,000 in shares of TFC during the first quarter. In the first quarter, MANNING & NAPIER GROUP, LLC acquired a new stake in Truist Financial Corporation valued at approximately $10,874,000. AUTO-OWNERS INSURANCE CO acquired a new stake in TFC for approximately $8,735,000. AVALON INVESTMENT & ADVISORY purchased a new stake in TFC valued at around $8,654,000 in the second quarter. In total, there are 1,743 active investors with 75.30% ownership of the company’s stock.
Truist Financial Corporation (NYSE: TFC) opened at $29.49 on Tuesday. During the past 12 months, Truist Financial Corporation has had a low of $25.56 and a high of $51.26. The fifty day moving average price for TFC is $31.42 and a two-hundred day moving average price translates $37.34 for the stock.
The latest earnings results from Truist Financial Corporation (NYSE: TFC) was released for Jun, 2023. According to the Banks – Regional Company, earnings per share came in at $0.95, missing analysts’ expectations of $1.01 by -0.06. This compares to $1.09 EPS in the same period last year. The net profit margin was 26.80% and return on equity was 10.50% for TFC. The company reported revenue of $6.18 billion for the quarter, compared to $3.67 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 68.15 percent. For the current quarter, analysts expect TFC to generate $5.74B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/01/2023. Investors who held shares on 08/11/2023 were paid a $0.52 dividend. On an annualized basis, this represents a $2.08 dividend and a 6.86% percent yield. There was an ex-dividend date of 08/10/2023 for this dividend. In terms of dividend payout ratio, TFC is presently at 47.70%.
