Truist Financial (NYSE:TFC) Upgraded to “Buy” at Compass Point

Truist Financial (NYSE:TFC) was upgraded by investment analysts at Compass Point from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $42.00 price objective on the insurance provider’s stock, up from their prior price objective of $34.00. Compass Point’s price objective would suggest a potential upside of 8.28% from the company’s previous close.

TFC has been the topic of several other reports. Jefferies Financial Group upped their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. HSBC lifted their price target on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. UBS Group upped their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Raymond James lifted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Price Performance

Truist Financial stock opened at $38.79 on Tuesday. 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 firm’s 50-day simple moving average is $36.83 and its 200 day simple moving average is $34.73. Truist Financial has a 52 week low of $25.56 and a 52 week high of $39.29. The firm 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 (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities research analysts predict that Truist Financial will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the 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 completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Truist Financial

Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its stake in shares of Truist Financial by 4.0% during the first quarter. Private Trust Co. NA now owns 17,687 shares of the insurance provider’s stock worth $689,000 after purchasing an additional 675 shares in the last quarter. Patton Albertson Miller Group LLC raised its holdings in shares of Truist Financial by 6.0% during the 1st quarter. Patton Albertson Miller Group LLC now owns 29,329 shares of the insurance provider’s stock valued at $1,143,000 after buying an additional 1,661 shares during the period. V Square Quantitative Management LLC lifted its position in Truist Financial by 23.9% during the 1st quarter. V Square Quantitative Management LLC now owns 28,047 shares of the insurance provider’s stock worth $1,093,000 after acquiring an additional 5,415 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in Truist Financial by 19.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock valued at $70,000 after acquiring an additional 290 shares in the last quarter. Finally, Premier Path Wealth Partners LLC raised its stake in shares of Truist Financial by 7.0% during the first quarter. Premier Path Wealth Partners LLC now owns 11,831 shares of the insurance provider’s stock valued at $461,000 after purchasing an additional 779 shares during the period. 71.28% of the stock is owned by hedge funds and other 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.