Truist Financial’s (TFC) Overweight Rating Reaffirmed at Stephens

Truist Financial (NYSE:TFC)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a note issued to investors on Tuesday, Benzinga reports. They currently have a $50.00 price target on the insurance provider’s stock. Stephens’ price target suggests a potential upside of 17.59% from the stock’s previous close.

A number of other research firms have also recently commented on TFC. The Goldman Sachs Group boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and boosted their target price for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.45.

Truist Financial Trading Down 0.2 %

NYSE:TFC traded down $0.08 during midday trading on Tuesday, hitting $42.52. 372,490 shares of the company traded hands, compared to its average volume of 8,273,073. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial has a 12-month low of $26.57 and a 12-month high of $45.31. The firm has a market capitalization of $56.94 billion, a P/E ratio of -32.21, a P/E/G ratio of 1.97 and a beta of 1.06. The firm’s fifty day moving average is $42.30 and its 200-day moving average is $39.15.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial will post 3.55 EPS for the current year.

Insiders Place Their Bets

In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in TFC. Crewe Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in Truist Financial in the 1st quarter valued at $29,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the second quarter worth about $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial during the second quarter worth approximately $31,000. Finally, Rise Advisors LLC bought a new position in Truist Financial during the 1st quarter worth $32,000. 71.28% of the stock is currently 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.