Truist Financial (NYSE:TFC) Price Target Lowered to $41.00 at Piper Sandler

Truist Financial (NYSE:TFC) had its price target decreased by Piper Sandler from $45.00 to $41.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 12.81% from the stock’s previous close.

TFC has been the subject of a number of other research reports. Barclays lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $48.00 to $52.00 in a research note 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 cut shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $48.28.

Truist Financial Stock Up 2.9 %

Shares of NYSE TFC opened at $36.34 on Monday. The stock has a market cap of $47.44 billion, a PE ratio of 10.91, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a current ratio of 0.83, a quick 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 company has a 50-day moving average of $40.79 and a 200 day moving average of $43.71.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, sell-side analysts predict that Truist Financial will post 4 EPS for the current fiscal year.

Hedge Funds Weigh In On Truist Financial

Several hedge funds have recently bought and sold shares of TFC. Capital International Investors increased its position in Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC raised its stake in Truist Financial by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after purchasing an additional 534,740 shares during the last quarter. Amundi lifted its holdings in Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after purchasing an additional 2,452,239 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock worth $465,827,000 after buying an additional 1,307,252 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other 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.