Stephens Initiates Coverage on Truist Financial (NYSE:TFC)

Investment analysts at Stephens assumed coverage on shares of Truist Financial (NYSE:TFC) in a research report issued to clients and investors on Monday. The firm set an “overweight” rating on the insurance provider’s stock.

TFC has been the subject of a number of other reports. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Morgan Stanley reduced their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Stock Down 3.9%

NYSE TFC traded down $2.03 during trading on Monday, reaching $49.63. 8,322,014 shares of the company’s stock were exchanged, compared to its average volume of 9,223,662. Truist Financial has a fifty-two week low of $38.88 and a fifty-two week high of $56.19. The firm has a market capitalization of $61.84 billion, a PE ratio of 12.32, a P/E/G ratio of 0.88 and a beta of 0.89. 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 fifty day simple moving average is $49.10 and its 200-day simple moving average is $49.18.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the company posted $0.87 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Truist Financial will post 4.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. 3Chopt Investment Partners LLC increased its position in shares of Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after purchasing an additional 193 shares during the period. IFP Advisors Inc boosted its holdings in Truist Financial by 2.4% during the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after buying an additional 194 shares during the last quarter. PCB Capital LLC increased its position in shares of Truist Financial by 3.0% during the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 198 shares during the last quarter. AlphaCore Capital LLC increased its position in shares of Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 199 shares during the last quarter. Finally, CYBER HORNET ETFs LLC increased its position in shares of Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 199 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.