Citigroup Has Lowered Expectations for Truist Financial (NYSE:TFC) Stock Price

Truist Financial (NYSE:TFC) had its price target decreased by stock analysts at Citigroup from $51.00 to $44.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Citigroup’s price target indicates a potential upside of 4.86% from the stock’s current price.

Several other research firms have also recently commented on TFC. Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Raymond James lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Performance

Truist Financial stock opened at $41.96 on Monday. The firm has a market capitalization of $54.77 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial has a one year low of $35.09 and a one year high of $49.06. The stock’s 50 day moving average price is $45.06 and its 200 day moving average price is $44.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, sell-side analysts expect that Truist Financial will post 4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bangor Savings Bank boosted its position 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 worth $25,000 after buying an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the 4th quarter worth $26,000. Navigoe LLC bought a new position in shares of Truist Financial in the fourth quarter worth $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the fourth quarter worth $45,000. Finally, True Wealth Design LLC acquired a new position in shares of Truist Financial during the third quarter valued at $51,000. 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.