Truist Financial (NYSE:TFC) Earns “Overweight” Rating from Stephens

Truist Financial (NYSE:TFC)‘s stock had its “overweight” rating reaffirmed by equities researchers at Stephens in a report released on Tuesday, Benzinga reports. They presently have a $43.00 target price on the insurance provider’s stock. Stephens’ price objective would indicate a potential upside of 10.74% from the company’s current price.

TFC has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $42.00 in a report on Tuesday. UBS Group lifted their price target on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Piper Sandler lifted their price target on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $41.59.

Truist Financial Stock Performance

Shares of TFC traded up $0.77 during midday trading on Tuesday, reaching $38.83. 2,200,553 shares of the stock were exchanged, compared to its average volume of 9,616,898. 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’s 50 day simple moving average is $36.68 and its 200 day simple moving average is $34.62. Truist Financial has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a market cap of $51.82 billion, a P/E ratio of -35.97, a PEG ratio of 2.27 and a beta of 1.08.

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 analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during 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 business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, sell-side analysts expect that Truist Financial will post 3.33 earnings per share for the current year.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s 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 directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in Truist Financial in the fourth quarter worth approximately $307,787,000. Parnassus Investments LLC bought a new position in shares of Truist Financial in the 4th quarter worth $95,049,000. North Reef Capital Management LP acquired a new stake in Truist Financial in the 3rd quarter valued at $66,804,000. Azora Capital LP bought a new stake in Truist Financial during the 4th quarter valued at $72,498,000. Finally, Assenagon Asset Management S.A. raised its holdings in Truist Financial by 342.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock worth $72,296,000 after buying an additional 1,955,448 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

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.