Truist Financial Co. (NYSE:TFC - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $47.64 and last traded at $47.64, with a volume of 1293282 shares changing hands. The stock had previously closed at $46.81.
A number of research firms have recently weighed in on TFC. UBS Group boosted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Wolfe Research raised shares of Truist Financial from an "underperform" rating to a "peer perform" rating in a research report on Friday, August 9th. StockNews.com raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, Morgan Stanley increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $46.37.
Get Our Latest Report on TFC
The firm's 50 day moving average price is $43.56 and its two-hundred day moving average price is $41.45. The firm has a market capitalization of $62.98 billion, a PE ratio of -33.31, a P/E/G ratio of 1.92 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.
Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. As a group, research analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial's payout ratio is -145.45%.
Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider's stock worth $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Truist Financial by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider's stock worth $1,169,350,000 after buying an additional 456,412 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Truist Financial by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider's stock valued at $401,663,000 after acquiring an additional 103,565 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Truist Financial by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider's stock worth $403,365,000 after purchasing an additional 288,306 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider's stock worth $346,957,000 after purchasing an additional 299,196 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.
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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