Truist Financial (NYSE:TFC) Upgraded to “Hold” at StockNews.com

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

A number of other analysts also recently weighed in on TFC. Morgan Stanley dropped their target price on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Raymond James cut shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Barclays decreased their target price on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

Truist Financial Trading Down 0.8 %

Shares of Truist Financial stock opened at $39.02 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a market cap of $51.10 billion, a PE ratio of 11.72, a PEG ratio of 1.63 and a beta of 0.83. The company has a 50 day simple moving average of $39.22 and a two-hundred day simple moving average of $43.38.

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

Institutional Investors Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bangor Savings Bank grew its stake in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in Truist Financial during the 4th quarter valued at about $26,000. Navigoe LLC bought a new stake in Truist Financial during the 4th quarter valued at about $26,000. Centennial Bank AR raised its holdings in Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after buying an additional 580 shares during the last quarter. Finally, Sierra Ocean LLC lifted its stake in shares of Truist Financial by 64.4% in the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after buying an additional 352 shares in 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.