Morgan Stanley Lowers Truist Financial (NYSE:TFC) Price Target to $43.00

Truist Financial (NYSE:TFC) had its price target reduced by investment analysts at Morgan Stanley from $50.00 to $43.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 23.33% from the stock’s current price.

A number of other research firms have also recently issued reports on TFC. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Compass Point raised their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Stephens boosted their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.22.

Truist Financial Stock Down 0.8 %

TFC opened at $34.87 on Monday. The company has a fifty day moving average of $43.22 and a two-hundred day moving average of $44.16. The stock has a market capitalization of $45.51 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 1.63 and a beta of 0.91. Truist Financial has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. 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 announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. On average, research analysts expect that Truist Financial will post 4 earnings per share for the current year.

Institutional Trading of Truist Financial

Several institutional investors have recently made changes to their positions in TFC. PBMares Wealth Management LLC raised its position in Truist Financial by 0.8% in the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after purchasing an additional 224 shares during the period. Koshinski Asset Management Inc. increased its position in shares of Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares during the period. FWG Holdings LLC lifted its position in Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after buying an additional 234 shares during the last quarter. Finally, Ignite Planners LLC boosted its stake in Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.