Truist Financial (NYSE:TFC – Get Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
Several other research firms also recently issued reports on TFC. Piper Sandler boosted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Morgan Stanley lifted their target price on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, January 4th. Finally, Royal Bank of Canada boosted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.87.
View Our Latest Analysis on Truist Financial
Truist Financial Stock Performance
Shares of TFC opened at $35.41 on Thursday. The company has a market capitalization of $47.23 billion, a PE ratio of -32.79, a price-to-earnings-growth ratio of 1.52 and a beta of 1.09. Truist Financial has a one year low of $25.56 and a one year high of $48.96. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $36.58 and its 200 day moving average price is $32.21.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the firm posted $1.30 EPS. As a group, analysts expect that Truist Financial will post 3.39 earnings per share for the current year.
Institutional Investors Weigh In On Truist Financial
Large investors have recently bought and sold shares of the company. Midland Wealth Advisors LLC acquired a new position in shares of Truist Financial in the fourth quarter valued at approximately $852,000. Continuum Advisory LLC boosted its holdings in shares of Truist Financial by 14.1% in the fourth quarter. Continuum Advisory LLC now owns 11,832 shares of the insurance provider’s stock valued at $437,000 after buying an additional 1,462 shares during the period. Pathstone Holdings LLC acquired a new position in shares of Truist Financial in the fourth quarter valued at approximately $5,642,000. Point72 Hong Kong Ltd acquired a new position in shares of Truist Financial in the fourth quarter valued at approximately $4,090,000. Finally, Pinnacle Holdings LLC boosted its holdings in shares of Truist Financial by 58.4% in the fourth quarter. Pinnacle Holdings LLC now owns 14,047 shares of the insurance provider’s stock valued at $519,000 after buying an additional 5,180 shares during the period. Institutional investors own 71.11% of the company’s stock.
Truist Financial Company Profile
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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