Truist Financial (NYSE:TFC) Stock Rating Reaffirmed by Stephens

Truist Financial (NYSE:TFC)‘s stock had its “overweight” rating reissued by stock analysts at Stephens in a research report issued on Tuesday, Benzinga reports. They currently have a $43.00 target price on the insurance provider’s stock. Stephens’ target price points to a potential upside of 10.74% from the stock’s previous close.

Several other equities analysts also recently issued reports on TFC. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, January 4th. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research note on Monday. Barclays raised their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $42.00 in a research note on Tuesday. Finally, Jefferies Financial Group raised their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.59.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $0.77 during midday trading on Tuesday, reaching $38.83. The company’s stock had a trading volume of 2,200,553 shares, compared to its average volume of 9,616,898. The firm has a market capitalization of $51.82 billion, a PE ratio of -35.97, a P/E/G ratio of 2.27 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock has a fifty day moving average of $36.68 and a 200 day moving average of $34.62. Truist Financial has a twelve month low of $25.56 and a twelve month high of $39.29.

Truist Financial (NYSE:TFC) last posted 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. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. On average, equities analysts expect that Truist Financial will post 3.33 EPS for the current fiscal year.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new position in Truist Financial in the first quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in Truist Financial in the first quarter worth approximately $32,000. Missouri Trust & Investment Co lifted its stake in Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Northwest Financial Advisors purchased a new position in Truist Financial in the fourth quarter worth approximately $34,000. Finally, Morton Brown Family Wealth LLC lifted its stake in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the last quarter. Institutional investors and hedge funds 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.