Truist Financial (NYSE:TFC) Upgraded at StockNews.com

Truist Financial (NYSE:TFC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company lowered their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Stephens boosted their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.22.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $35.88 on Friday. The business’s 50 day moving average price is $41.21 and its 200-day moving average price is $43.79. Truist Financial has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $46.83 billion, a PE ratio of 10.77, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, equities research analysts expect that Truist Financial will post 4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

Institutional investors have recently added to or reduced their stakes in the business. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the fourth quarter valued at $26,000. Navigoe LLC acquired a new stake in shares of Truist Financial during the fourth quarter worth about $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial in the 4th quarter valued at about $45,000. Finally, City State Bank grew its stake in Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after buying an additional 716 shares during the last quarter. 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.