Truist Financial (NYSE:TFC) Stock Rating Upgraded by StockNews.com

Truist Financial (NYSE:TFC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other research analysts have also recently commented on TFC. JPMorgan Chase & Co. dropped their target price on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Wells Fargo & Company reduced their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Stephens boosted their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.28.

Truist Financial Price Performance

Shares of NYSE TFC opened at $35.36 on Friday. Truist Financial has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock has a market capitalization of $46.16 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average of $40.99 and a 200-day moving average of $43.76.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, sell-side analysts predict that Truist Financial will post 4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Truist Financial

Large investors have recently modified their holdings of the company. Bangor Savings Bank grew its holdings in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the 4th quarter valued at about $26,000. Navigoe LLC bought a new stake in Truist Financial during the 4th quarter worth approximately $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial in the fourth quarter worth approximately $45,000. Finally, City State Bank lifted its holdings in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

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.