Truist Financial (NYSE:TFC) Raised to “Buy” at StockNews.com

Truist Financial (NYSE:TFCGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler cut their price target on shares of Truist Financial to $52.00 in a report on Friday, July 22nd. Compass Point lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Monday, August 15th. Wells Fargo & Company cut their price target on shares of Truist Financial from $69.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Morgan Stanley cut their price target on shares of Truist Financial from $63.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. Finally, Barclays cut their price target on shares of Truist Financial to $61.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and a consensus target price of $57.63.

Truist Financial Trading Down 2.6 %

NYSE:TFC traded down $1.20 during trading hours on Thursday, reaching $44.80. The company’s stock had a trading volume of 5,043,745 shares, compared to its average volume of 6,616,797. The firm has a market capitalization of $59.42 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.04 and a beta of 1.12. The firm has a 50-day simple moving average of $48.74 and a 200-day simple moving average of $50.20. Truist Financial has a 1 year low of $44.68 and a 1 year high of $68.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.75 and a current ratio of 0.76.

Truist Financial (NYSE:TFCGet Rating) last issued its earnings results on Tuesday, July 19th. The insurance provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Truist Financial had a net margin of 27.25% and a return on equity of 12.14%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. Research analysts expect that Truist Financial will post 5 EPS for the current fiscal year.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. sold 142,606 shares of Truist Financial stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $47.78, for a total value of $6,813,714.68. Following the completion of the transaction, the chief executive officer now directly owns 862,590 shares of the company’s stock, valued at $41,214,550.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TFC. Swaine & Leidel Wealth Services LLC purchased a new position in shares of Truist Financial during the first quarter valued at approximately $27,000. Fairfield Bush & CO. bought a new stake in Truist Financial during the first quarter valued at approximately $25,000. Carolina Wealth Advisors LLC bought a new stake in Truist Financial during the first quarter valued at approximately $26,000. Cyrus J. Lawrence LLC bought a new stake in Truist Financial during the first quarter valued at approximately $27,000. Finally, Delos Wealth Advisors LLC grew its position in Truist Financial by 108.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 518 shares of the insurance provider’s stock valued at $30,000 after buying an additional 270 shares during the period. 73.31% of the stock is owned by hedge funds and other institutional investors.

About Truist Financial

(Get Rating)

Truist Financial Corporation, a holding 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.

Further Reading

Analyst Recommendations for Truist Financial (NYSE:TFC)

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