Truist Financial (NYSE:TFC) Stock Rating Reaffirmed by Stephens

Truist Financial (NYSE:TFC)‘s stock had its “overweight” rating restated by investment analysts at Stephens in a research note issued on Tuesday, Benzinga reports. They currently have a $43.00 price objective on the insurance provider’s stock. Stephens’ target price would suggest a potential upside of 10.85% from the company’s previous close.

TFC has been the subject of a number of other research reports. Barclays increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Jefferies Financial Group boosted their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Royal Bank of Canada lifted their price objective 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. Finally, Morgan Stanley restated an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Stock Performance

NYSE TFC opened at $38.79 on Tuesday. The company has a fifty day moving average of $36.83 and a two-hundred day moving average of $34.73. The company has a market capitalization of $51.77 billion, a PE ratio of -29.39, a P/E/G ratio of 2.39 and a beta of 1.08. Truist Financial has a 1 year low of $25.56 and a 1 year high of $39.29. 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) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the business posted $1.09 EPS. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, analysts expect that Truist Financial will post 3.27 earnings per share for the current year.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Truist Financial

Several hedge funds and other institutional investors have recently made changes to their positions in TFC. OFI Invest Asset Management acquired a new position in Truist Financial in the 3rd quarter worth $26,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth about $29,000. Operose Advisors LLC acquired a new stake in Truist Financial during the third quarter worth about $31,000. Missouri Trust & Investment Co lifted its holdings in Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in shares of Truist Financial during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Company Profile

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.