Truist Financial (NYSE:TFC – Get Rating) had its target price lowered by equities researchers at Stephens from $74.00 to $64.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Stephens’ price target points to a potential upside of 29.48% from the stock’s previous close.
Several other research firms have also recently commented on TFC. The Goldman Sachs Group cut their price objective on shares of Truist Financial from $68.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Morgan Stanley cut their price objective on shares of Truist Financial from $72.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. Bank of America lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research note on Friday, April 8th. StockNews.com lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Finally, Wolfe Research lowered their price target on shares of Truist Financial from $57.00 to $41.00 and set an “underperform” rating on the stock in a research note on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average price target of $62.12.
Shares of NYSE TFC traded down $0.07 during midday trading on Tuesday, reaching $49.43. 29,527 shares of the stock were exchanged, compared to its average volume of 7,208,981. The company has a market capitalization of $65.81 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 1.81 and a beta of 1.17. Truist Financial has a 12 month low of $44.85 and a 12 month high of $68.95. The business has a 50-day simple moving average of $50.58 and a two-hundred day simple moving average of $57.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.76 and a quick ratio of 0.75.
In other news, Director Steven C. Voorhees acquired 20,000 shares of the stock in a transaction dated Wednesday, May 4th. The shares were bought at an average cost of $49.82 per share, for a total transaction of $996,400.00. Following the purchase, the director now directly owns 60,873 shares of the company’s stock, valued at $3,032,692.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Swaine & Leidel Wealth Services LLC acquired a new position in Truist Financial in the 1st quarter valued at about $27,000. Hanson & Doremus Investment Management grew its stake in Truist Financial by 456.4% in the 4th quarter. Hanson & Doremus Investment Management now owns 434 shares of the insurance provider’s stock valued at $25,000 after buying an additional 356 shares during the last quarter. Elmwood Wealth Management Inc. acquired a new position in Truist Financial in the 4th quarter valued at about $25,000. Fairfield Bush & CO. acquired a new position in Truist Financial in the 1st quarter valued at about $25,000. Finally, Carolina Wealth Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 72.79% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Truist Financial (TFC)
- It’s Time To PLAY With Dave & Buster’s
- Seagate Technology: Improved Fundamentals & Recovering Technicals
- It’s A Sweet Time To Buy The J.M. Smucker Co.
- Don’t Rush Out To Buy G-III Apparel
- Target’s Warning Is Dire News For The S&P 500
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.