Truist Financial (NYSE:TFC – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
TFC has been the subject of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of Truist Financial in a research note on Tuesday, September 12th. Jefferies Financial Group cut their price objective on shares of Truist Financial from $31.00 to $28.00 in a research report on Tuesday, October 10th. Piper Sandler increased their target price on Truist Financial from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, December 8th. Raymond James cut their price target on Truist Financial from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 5th. Finally, Morgan Stanley decreased their price objective on Truist Financial from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus target price of $37.97.
Read Our Latest Report on Truist Financial
Truist Financial Trading Down 1.0 %
TFC traded down $0.37 during mid-day trading on Friday, hitting $36.92. The stock had a trading volume of 6,044,814 shares, compared to its average volume of 11,402,460. The stock’s fifty day simple moving average is $32.27 and its 200-day simple moving average is $31.09. The firm has a market capitalization of $49.24 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. Truist Financial has a 1-year low of $25.56 and a 1-year high of $53.34. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.
Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.02). Truist Financial had a return on equity of 10.74% and a net margin of 17.59%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business posted $1.24 EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, research analysts forecast that Truist Financial will post 3.76 EPS for the current fiscal year.
Insider Activity at Truist Financial
In related news, CEO William H. Rogers, Jr. acquired 10,000 shares of Truist Financial stock in a transaction on Friday, October 20th. The stock was purchased at an average cost of $28.05 per share, with a total value of $280,500.00. Following the completion of the transaction, the chief executive officer now directly owns 412,924 shares in the company, valued at approximately $11,582,518.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is owned by company insiders.
Institutional Investors Weigh In On Truist Financial
A number of institutional investors have recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in Truist Financial during the first quarter worth about $25,000. Quarry LP bought a new position in shares of Truist Financial during the first quarter worth approximately $32,000. OFI Invest Asset Management acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $26,000. JFS Wealth Advisors LLC boosted its stake in shares of Truist Financial by 617.0% in the second quarter. JFS Wealth Advisors LLC now owns 968 shares of the insurance provider’s stock valued at $29,000 after buying an additional 833 shares during the period. Finally, MRP Capital Investments LLC bought a new stake in shares of Truist Financial in the first quarter valued at approximately $34,000. 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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