Truist Financial (NYSE:TFC – Get Free Report) was upgraded by investment analysts at Odeon Capital Group from a “hold” rating to a “buy” rating in a report released on Thursday, Briefing.com reports.
TFC has been the topic of a number of other reports. Keefe, Bruyette & Woods upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and cut their price target for the company from $37.00 to $36.00 in a research report on Wednesday, September 20th. HSBC began coverage on shares of Truist Financial in a report on Thursday, September 7th. They set a “hold” rating and a $29.00 target price on the stock. Piper Sandler raised their target price on shares of Truist Financial from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, December 8th. Morgan Stanley dropped their target price on shares of Truist Financial from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, December 4th. Finally, StockNews.com began coverage on shares of Truist Financial in a research note on Thursday, October 5th. They set a “hold” rating for the company. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.57.
View Our Latest Stock Analysis on Truist Financial
Truist Financial Stock Up 4.1 %
Shares of NYSE:TFC opened at $35.49 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial has a 12 month low of $25.56 and a 12 month high of $53.34. The firm has a market cap of $47.33 billion, a P/E ratio of 8.94, a P/E/G ratio of 2.03 and a beta of 1.12. The company’s 50-day moving average price is $30.45 and its two-hundred day moving average price is $30.71.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.02). The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a net margin of 17.59% and a return on equity of 10.74%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. As a group, research analysts forecast that Truist Financial will post 3.76 EPS for the current fiscal year.
Insider Buying and Selling at Truist Financial
In other Truist Financial news, CEO William H. Rogers, Jr. purchased 10,000 shares of the business’s stock in a transaction on Friday, October 20th. The stock was acquired at an average price of $28.05 per share, with a total value of $280,500.00. Following the acquisition, the chief executive officer now directly owns 412,924 shares of the company’s stock, valued at approximately $11,582,518.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.
Institutional Investors Weigh In On Truist Financial
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Birmingham Capital Management Co. Inc. AL lifted its holdings in shares of Truist Financial by 4.1% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock worth $244,000 after buying an additional 335 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Truist Financial by 86.6% during the third quarter. Sunbelt Securities Inc. now owns 4,692 shares of the insurance provider’s stock worth $134,000 after buying an additional 2,177 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Truist Financial by 1.8% during the third quarter. Raleigh Capital Management Inc. now owns 42,958 shares of the insurance provider’s stock worth $1,229,000 after buying an additional 741 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Truist Financial by 9.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 91,666 shares of the insurance provider’s stock worth $2,623,000 after buying an additional 7,728 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its holdings in shares of Truist Financial by 42.5% during the third quarter. Modera Wealth Management LLC now owns 201,821 shares of the insurance provider’s stock worth $5,774,000 after buying an additional 60,191 shares in the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.
About Truist Financial
Truist Financial Corporation, a holding 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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