Truist Financial (NYSE:TFC) Price Target Increased to $39.00 by Analysts at HSBC

Truist Financial (NYSE:TFC) had its price target hoisted by equities researchers at HSBC from $37.00 to $39.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the insurance provider’s stock. HSBC’s price target points to a potential upside of 1.06% from the company’s previous close.

A number of other research analysts have also recently weighed in on TFC. Raymond James lifted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods lifted 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. Morgan Stanley lifted their target price on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Royal Bank of Canada lifted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus price target of $40.03.

Truist Financial Trading Up 2.6 %

Shares of Truist Financial stock opened at $38.59 on Thursday. The company’s fifty day simple moving average is $36.36 and its 200-day simple moving average is $33.39. The stock has a market capitalization of $51.50 billion, a PE ratio of -35.73, a P/E/G ratio of 1.58 and a beta of 1.07. Truist Financial has a 1-year low of $25.56 and a 1-year high of $38.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share 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 negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the company posted $1.30 EPS. As a group, equities analysts anticipate that Truist Financial will post 3.39 earnings per share for the current year.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Several hedge funds have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC bought a new position in Truist Financial during the 4th quarter valued at about $865,000. Grayhawk Investment Strategies Inc. bought a new position in Truist Financial during the 4th quarter valued at about $317,000. BlueChip Wealth Advisors LLC bought a new position in Truist Financial during the 4th quarter valued at about $3,879,000. Hennessy Advisors Inc. grew its holdings in Truist Financial by 40.0% during the 4th quarter. Hennessy Advisors Inc. now owns 28,000 shares of the insurance provider’s stock valued at $1,034,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Yeomans Consulting Group Inc. purchased a new stake in Truist Financial in the 4th quarter valued at about $389,000. 71.28% of the stock is currently owned by institutional investors.

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.