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

Truist Financial (NYSE:TFC) had its price objective upped 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 target price suggests a potential upside of 16.01% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. UBS Group raised their price target on shares of Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $43.00 in a report on Tuesday, March 19th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Raymond James raised 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.30.

Truist Financial Stock Up 0.5 %

Shares of TFC traded up $0.20 on Thursday, reaching $38.79. The stock had a trading volume of 2,577,353 shares, compared to its average volume of 9,790,021. The firm has a market capitalization of $51.77 billion, a price-to-earnings ratio of -35.86, a price-to-earnings-growth 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. The company has a 50-day simple moving average of $36.36 and a 200-day simple moving average of $33.39. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $1.30 EPS. Sell-side analysts predict that Truist Financial will post 3.39 EPS for the current year.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in TFC. Fairfield Bush & CO. bought a new position in Truist Financial during the 1st quarter valued at about $25,000. OFI Invest Asset Management acquired a new stake in Truist Financial in the 3rd quarter valued at about $26,000. West Tower Group LLC acquired a new stake in Truist Financial in the 4th quarter valued at about $29,000. Operose Advisors LLC acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $31,000. Finally, Missouri Trust & Investment Co grew its position in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the period. 71.28% of the stock is owned by institutional investors.

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.