Stephens Lowers Truist Financial (NYSE:TFC) Price Target to $46.00

Truist Financial (NYSE:TFC) had its target price dropped by equities researchers at Stephens from $48.00 to $46.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Stephens’ price objective indicates a potential upside of 26.57% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Barclays reduced their price objective on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday. Morgan Stanley lowered their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.28.

Truist Financial Trading Up 2.9 %

Shares of NYSE:TFC opened at $36.34 on Monday. The firm has a fifty day moving average of $40.79 and a two-hundred day moving average of $43.71. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 12-month low of $33.56 and a 12-month high of $49.06. The firm has a market capitalization of $47.44 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the firm earned $0.90 earnings per share. On average, equities analysts expect that Truist Financial will post 4 EPS for the current fiscal year.

Hedge Funds Weigh In On Truist Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFC. Bangor Savings Bank grew its holdings in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Truist Financial during the fourth quarter worth $26,000. Navigoe LLC bought a new stake in Truist Financial in the 4th quarter valued at $26,000. Curio Wealth LLC bought a new stake in Truist Financial in the 4th quarter valued at $45,000. Finally, City State Bank raised its stake in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after buying an additional 716 shares in the last quarter. 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.