Truist Financial (NYSE:TFC – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.
Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Royal Bank of Canada lifted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Raymond James lifted their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Piper Sandler lifted their price target on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Finally, Barclays lifted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.87.
Read Our Latest Stock Analysis on TFC
Truist Financial Stock Down 0.4 %
Shares of NYSE:TFC opened at $35.64 on Friday. The stock has a market cap of $47.53 billion, a price-to-earnings ratio of -33.00, a PEG ratio of 1.50 and a beta of 1.09. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial has a 12-month low of $25.56 and a 12-month high of $47.85. The business’s 50 day moving average is $36.69 and its 200 day moving average is $32.35.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the previous year, the firm earned $1.30 earnings per share. On average, sell-side analysts forecast that Truist Financial will post 3.39 earnings per share for the current fiscal year.
Institutional Trading of Truist Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Truist Financial by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 117,952,471 shares of the insurance provider’s stock valued at $4,354,805,000 after purchasing an additional 680,843 shares during the period. State Street Corp raised its stake in shares of Truist Financial by 1.8% during the 2nd quarter. State Street Corp now owns 59,824,259 shares of the insurance provider’s stock valued at $1,815,666,000 after purchasing an additional 1,056,703 shares during the period. Geode Capital Management LLC grew its position in Truist Financial by 2.2% during the second quarter. Geode Capital Management LLC now owns 24,458,354 shares of the insurance provider’s stock worth $740,544,000 after buying an additional 526,889 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Truist Financial by 12,034.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after buying an additional 20,321,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares in the last quarter. 71.11% of the stock is currently owned by institutional investors.
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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