Truist Financial (NYSE:TFC) Price Target Raised to $41.00

Truist Financial (NYSE:TFC) had its price target upped by HSBC from $40.00 to $41.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the insurance provider’s stock. HSBC’s target price would indicate a potential upside of 4.86% from the stock’s current price.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. lifted their price target on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 22nd. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Truist Financial Stock Up 0.6 %

Shares of NYSE:TFC opened at $39.10 on Wednesday. The firm has a 50 day simple moving average of $37.43 and a 200-day simple moving average of $35.42. Truist Financial has a twelve month low of $26.49 and a twelve month high of $40.35. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $52.18 billion, a PE ratio of -29.62, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts predict that Truist Financial will post 3.3 EPS for the current fiscal year.

Insider Transactions at Truist Financial

In related 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 transaction of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

Institutional investors have recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the first quarter valued at $29,000. Operose Advisors LLC acquired a new stake in shares of Truist Financial during the third quarter valued at $31,000. Missouri Trust & Investment Co increased its position in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at about $32,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

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.