Truist Financial (NYSE:TFC) Price Target Raised to $45.00 at Wells Fargo & Company

Truist Financial (NYSE:TFC) had its price objective increased by equities research analysts at Wells Fargo & Company from $39.00 to $45.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 16.01% from the stock’s previous close.

Other research analysts have also issued reports about the company. Raymond James upped their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, January 4th. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $41.00 to $43.00 in a research note on Tuesday, March 19th. Morgan Stanley increased their target price on Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, HSBC raised their price target on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Hold” and an average target price of $40.30.

Truist Financial Stock Up 0.5 %

Shares of Truist Financial stock traded up $0.20 during trading on Thursday, hitting $38.79. 2,577,353 shares of the stock traded hands, compared to its average volume of 9,790,021. The stock has a market cap of $51.77 billion, a P/E ratio of -35.86, a PEG ratio of 1.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a fifty day moving average price of $36.36 and a two-hundred day moving average price of $33.39.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the previous year, the company earned $1.30 EPS. Equities research analysts predict that Truist Financial will post 3.39 EPS for the current fiscal year.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TFC. Fairfield Bush & CO. bought a new stake in shares of Truist Financial in the 1st quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in Truist Financial in the 3rd quarter valued at approximately $26,000. West Tower Group LLC bought a new position in Truist Financial in the 4th quarter valued at approximately $29,000. Operose Advisors LLC purchased a new stake in Truist Financial during the 3rd quarter valued at $31,000. Finally, Missouri Trust & Investment Co increased its stake in shares of Truist Financial by 227.2% in 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. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Company Profile

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.