Truist Financial (NYSE:TFC – Get Free Report) was downgraded by research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.
A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upped their target price on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, Jefferies Financial Group increased their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. One equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.28.
View Our Latest Report on Truist Financial
Truist Financial Trading Down 1.5 %
NYSE:TFC opened at $42.45 on Wednesday. The stock has a fifty day simple moving average of $38.32 and a 200 day simple moving average of $37.48. The firm has a market capitalization of $56.80 billion, a price-to-earnings ratio of -32.16, a price-to-earnings-growth ratio of 2.13 and a beta of 1.07. Truist Financial has a 1-year low of $26.57 and a 1-year high of $43.46. 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 (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. Sell-side analysts forecast that Truist Financial will post 3.37 earnings per share for the current year.
Institutional Trading of Truist Financial
A number of large investors have recently bought and sold shares of TFC. Norges Bank bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $307,787,000. Capital International Investors grew its holdings in shares of Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Parnassus Investments LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at $95,049,000. Azora Capital LP bought a new position in shares of Truist Financial in the fourth quarter valued at about $72,498,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Truist Financial by 8.2% during the 4th 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. 71.28% of the stock is currently owned by institutional investors.
About Truist Financial
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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Source: defenseworld.net
