Truist Financial (NYSE:TFC) Price Target Lowered to $42.00 at JPMorgan Chase & Co.

Truist Financial (NYSE:TFC) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $48.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 20.68% from the company’s current price.

Several other research firms have also recently commented on TFC. Stephens lifted their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company dropped their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley increased their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.42.

Truist Financial Trading Down 6.0 %

NYSE TFC opened at $34.80 on Thursday. The firm has a 50-day moving average price of $43.97 and a 200 day moving average price of $44.30. Truist Financial has a 52-week low of $33.71 and a 52-week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $45.43 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. 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 firm posted $0.81 earnings per share. Equities research analysts expect that Truist Financial will post 4 EPS for the current year.

Institutional Trading of Truist Financial

Institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its stake in shares of Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Norges Bank acquired a new stake in Truist Financial during the fourth quarter valued at approximately $402,828,000. FMR LLC grew its position in shares of Truist Financial by 109.1% in the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at approximately $198,051,000. Finally, State Street Corp raised its position in shares of Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

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.