Evercore ISI Reiterates In-Line Rating for Truist Financial (NYSE:TFC)

Truist Financial (NYSE:TFC)‘s stock had its “in-line” rating reissued by analysts at Evercore ISI in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $44.00 target price on the insurance provider’s stock. Evercore ISI’s price target indicates a potential upside of 11.70% from the stock’s current price.

Several other research analysts have also weighed in on TFC. Royal Bank of Canada lifted their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Stephens reiterated an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods increased their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup raised their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Truist Financial Trading Up 0.7 %

NYSE TFC opened at $39.39 on Thursday. The firm has a market capitalization of $52.57 billion, a PE ratio of -29.84, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. The business’s 50-day moving average price is $37.34 and its two-hundred day moving average price is $35.39. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial has a 12 month low of $26.49 and a 12 month high of $40.35.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the business earned $1.09 EPS. The company’s revenue was down 8.8% compared to the same quarter last year. On average, analysts expect that Truist Financial will post 3.3 EPS for the current year.

Insider Transactions at Truist Financial

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

Institutional Trading of Truist Financial

Large investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in Truist Financial in the 3rd quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in Truist Financial in the 1st quarter worth approximately $29,000. Operose Advisors LLC bought a new position in Truist Financial in the 3rd quarter worth approximately $31,000. Missouri Trust & Investment Co grew its stake in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter worth $32,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.