Truist Financial (NYSE:TFC) Rating Reiterated by Stephens

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

TFC has been the subject of several other research reports. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday. UBS Group increased their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Piper Sandler boosted their price target on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Wells Fargo & Company increased their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Trading Down 0.1 %

Shares of NYSE TFC opened at $38.79 on Tuesday. Truist Financial has a twelve month low of $25.56 and a twelve month high of $39.29. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of -29.39, a P/E/G ratio of 2.39 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The company’s fifty day moving average is $36.83 and its 200-day moving average is $34.73.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $5.70 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts predict that Truist Financial will post 3.27 EPS for the current year.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Truist Financial

Large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in shares of Truist Financial in the third quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at about $29,000. Operose Advisors LLC bought a new position in Truist Financial in the 3rd quarter valued at about $31,000. Missouri Trust & Investment Co lifted its position in Truist Financial by 227.2% during 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 stake in shares of Truist Financial during the first quarter worth approximately $32,000. Institutional investors own 71.28% of the company’s stock.

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.