Truist Financial (NYSE:TFC) PT Raised to $46.00

Truist Financial (NYSE:TFC) had its target price hoisted by equities research analysts at Keefe, Bruyette & Woods from $45.00 to $46.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 17.65% from the stock’s current price.

Several other equities analysts have also recently commented on the company. JPMorgan Chase & Co. upped their price target on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup raised their target price on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Truist Financial Stock Up 0.6 %

TFC opened at $39.10 on Wednesday. Truist Financial has a 1-year low of $26.49 and a 1-year high of $40.35. The business has a 50 day moving average of $37.43 and a 200-day moving average of $35.42. The stock has a market capitalization of $52.18 billion, a price-to-earnings ratio of -29.62, a P/E/G ratio of 2.03 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. As a group, sell-side analysts anticipate that Truist Financial will post 3.3 earnings per share for the current year.

Insider Activity

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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Truist Financial in the 3rd quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial during the first quarter valued at approximately $29,000. Operose Advisors LLC bought a new position in Truist Financial in the third quarter valued at approximately $31,000. Missouri Trust & Investment Co increased its position in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $32,000. 71.28% of the stock is currently owned by 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.