Truist Financial (NYSE:TFC – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
Several other equities research analysts have also recently weighed in on TFC. Evercore ISI boosted their price objective on Truist Financial from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Monday, November 20th. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, January 4th. Raymond James boosted their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Piper Sandler lifted their price target on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Hold” and a consensus target price of $39.87.
Truist Financial Stock Down 0.6 %
TFC opened at $37.23 on Tuesday. The company has a market capitalization of $49.68 billion, a PE ratio of -34.47, a price-to-earnings-growth ratio of 1.60 and a beta of 1.07. The firm has a 50-day simple moving average of $36.50 and a two-hundred day simple moving average of $32.88. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial has a 52 week low of $25.56 and a 52 week high of $38.47.
Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the prior year, the firm earned $1.30 EPS. Analysts forecast that Truist Financial will post 3.35 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Douglas Lane & Associates LLC raised its stake in Truist Financial by 6.3% in the third quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock valued at $44,189,000 after buying an additional 91,579 shares during the last quarter. Loudon Investment Management LLC boosted its stake in Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares in the last quarter. Pathstone Family Office LLC grew its position in Truist Financial by 84.8% during the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 44,659 shares during the last quarter. Cerity Partners LLC increased its stake in Truist Financial by 36.5% during the 2nd quarter. Cerity Partners LLC now owns 679,604 shares of the insurance provider’s stock valued at $20,626,000 after purchasing an additional 181,828 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Truist Financial by 37.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock valued at $77,258,000 after purchasing an additional 740,722 shares in the last quarter. Hedge funds and other institutional investors own 71.11% 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.