Truist Financial Corporation (TFC) has recently garnered attention from various reports and research firms. These reports provide insights on the company’s performance and offer recommendations for investors.
One report by StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in August 2023. Wells Fargo & Company, on the other hand, reduced its price target on TFC from $42.00 to $40.00 while maintaining an “overweight” rating in July 2023. Keefe, Bruyette & Woods upgraded the stock from a “market perform” rating to an “outperform” rating but dropped their price objective from $37.00 to $36.00 in September 2023.
Royal Bank of Canada reaffirmed their “outperform” rating with a price objective of $40.00 on Truist Financial in September 2023 as well. Morgan Stanley, however, downgraded their price objective on TFC from $42.00 to $41.00 and set an “equal weight” rating on the stock in July 2023.
Overall, twelve analysts have assigned a hold rating and seven have issued a buy rating for Truist Financial Corporation’s stock. Bloomberg.com reports that the consensus among these analysts is a “Hold” rating with a consensus target price of $39.36.
Institutional investors have also made notable moves regarding their stakes in Truist Financial Corporation’s stock. BlackRock Inc., for example, increased its position by 8.3% during the first quarter of 2023, acquiring an additional 7,651,641 shares and raising its total ownership to 100,042,278 shares valued at approximately $3,411,442,000.
State Street Corp increased its position by 1.8% during the second quarter of 2023 and now holds 59,824,259 shares valued at approximately $1,815,666,000. Geode Capital Management LLC also boosted its position by 2.2% during the same period and now owns 24,458,354 shares worth around $740,544,000. FMR LLC saw a significant increase of 55.2% in their position during the first quarter of 2023 with 21,461,191 shares valued at $731,827,000.
Furthermore, Moneta Group Investment Advisors LLC experienced a staggering increase in their position during the fourth quarter of 2023. Their stake rose by an astonishing 12,034.8%, and they now own 20,490,356 shares worth $881,700,000.
Presently, institutional investors hold approximately 71.11% ownership of Truist Financial Corporation’s stock.
As for its market performance as of September 27th , 2023; Truist Financial stock opened at $28.26 on Wednesday. The stock’s average price over the past 50 days stands at $30.64 while its average price over the past 200 days is reported at $31.25.
Truist Financial Corporation currently holds a market capitalization of $37.64 billion with a relatively low price-to-earnings (P/E) ratio of 6.54 and a price-to-earnings-growth (PEG) ratio of 1.74.
Analyzing its financial health further reveals that Truist Financial has a debt-to-equity ratio of 0.78 along with a quick ratio and current ratio of both approximately 0.82 and 0.83 respectively.
Over the past year , TFC stock hit a high of $53.34 and hit its lowest point at $25 .56.
In conclusion ,Truist Financial Corporation has garnered attention in the investment community through various reports and recommendations by research firms. The stock currently holds a consensus rating of “Hold” with an average target price of $39.36. Institutional investors have made notable moves in their positions, reinforcing investor confidence. Truist Financial’s market performance and financial indicators provide key insights into its stability as a company in the insurance sector.
This article is accurate as of September 27, 2023, and offers a comprehensive overview of Truist Financial Corporation’s stock performance and evaluations. It provides valuable information for potential investors and individuals interested in tracking the progress of Truist Financial in the market.
Truist Financial Co. Demonstrates Promising Growth and Investor Confidence
Truist Financial Co. (NYSE:TFC) recently received an increase in their Q2 2024 earnings per share (EPS) estimates, according to equities research analysts at Zacks Research. The analysts, led by N. Kataruka, now predict that the insurance provider will earn $0.92 per share for the quarter, up from their previous forecast of $0.91.
This positive adjustment in earnings estimates highlights a promising outlook for Truist Financial in the coming months. It also reflects the confidence that analysts have in the company’s ability to generate profits and deliver returns to its shareholders. The consensus estimate for Truist Financial’s current full-year earnings stands at $3.71 per share.
Zacks Research also provided projections for Truist Financial’s Q2 2025 earnings, forecasting $1.02 EPS during that period. By analyzing future earnings potential, investors can make more informed decisions about their investment strategies.
Institutional investors have shown continued interest in Truist Financial stock, increasing or decreasing their stakes accordingly. BlackRock Inc., for instance, has boosted its position by 8.3% during the 1st quarter of this year. Their ownership now stands at 100,042,278 shares of Truist Financial stock worth approximately $3,411,442,000.
State Street Corp also raised its stake by 1.8% during the 2nd quarter and now owns 59,824,259 shares of the insurance provider’s stock valued at around $1,815,666,000.
Geode Capital Management LLC followed suit with a gain of 2.2% during the same period and owns 24,458,354 shares worth approximately $740,544,000.
FMR LLC showed significant growth in their position as well – a whopping increase of 55.2% during the first quarter – bringing their total ownership to 21,461,191 shares valued at $731,827,000.
Lastly, Moneta Group Investment Advisors LLC experienced an astonishing surge of 12,034.8% during the fourth quarter and now holds a whopping 20,490,356 shares worth approximately $881,700,000. These institutional investors currently own about 71.11% of Truist Financial’s stock.
Truist Financial recently announced their quarterly earnings results on Thursday, July 20th. The company reported an EPS of $0.92 for the quarter, falling short of the consensus estimate of $1.00 by ($0.08). However, despite missing expectations in terms of earnings per share, Truist Financial demonstrated growth in revenue with $5.97 billion for the quarter – matching analyst estimates.
With a return on equity of 11.73% and a net margin of 20.17%, Truist Financial showcased its ability to generate profits throughout the year and maintain strong financial performance.
Additionally, Truist Financial paid out a quarterly dividend on Friday, September 1st to shareholders of record as of Friday, August 11th. Each shareholder received a dividend of $0.52 per share on this date.
The annualized dividend amounts to $2.08 per share and offers investors a yield of 7.36%. This payout represents approximately 48.15% of Truist Financial’s current earnings.
In conclusion,Texemplifying its continued commitment toward generating returns for its shareholders and maintaining financial stability throughout market fluctuations.Truist Financial has exhibited resilience and steady growth in recent years despite some mixed earnings results.Rising analysts’ predictions further underpin its potential.The support from institutional investors also adds confidence in its future success moving forward.Financially speaking,the company’s robust foundation sets it apart from other insurance providers in the industry-TFC oughts.tagline
Source: beststocks.com
