Truist Financial (NYSE:TFC) Stock Rating Upgraded by TD Cowen

Truist Financial (NYSE:TFC) was upgraded by equities research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage presently has a $55.00 price objective on the insurance provider’s stock. TD Cowen’s price target would suggest a potential upside of 26.15% from the stock’s current price.

Several other brokerages also recently issued reports on TFC. Evercore ISI lifted their price objective on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Piper Sandler set a $48.00 target price on shares of Truist Financial in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Price Performance

Shares of NYSE TFC opened at $43.60 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $45.10 and its 200 day moving average price is $42.34. Truist Financial has a 52 week low of $33.56 and a 52 week high of $49.06. The stock has a market cap of $56.22 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.20 and a beta of 0.88.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts forecast that Truist Financial will post 4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Truist Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock valued at $5,177,722,000 after purchasing an additional 1,529,478 shares in the last quarter. Geode Capital Management LLC raised its holdings in Truist Financial by 0.3% in the second quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock valued at $1,205,855,000 after buying an additional 74,728 shares during the period. Amundi lifted its position in Truist Financial by 4.6% during the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after buying an additional 1,091,311 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Truist Financial by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock valued at $755,185,000 after buying an additional 164,034 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Truist Financial by 6.5% during the second quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock worth $601,650,000 after buying an additional 854,826 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.