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

Truist Financial (NYSE:TFC)‘s stock had its “overweight” rating restated by Stephens in a report issued on Tuesday, Benzinga reports. They presently have a $50.00 price target on the insurance provider’s stock. Stephens’ price target would suggest a potential upside of 20.05% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Bank of America raised their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Barclays increased their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised their price target on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.45.

Truist Financial Price Performance

TFC stock opened at $41.65 on Tuesday. Truist Financial has a 1 year low of $26.57 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $42.41 and a 200-day simple moving average of $39.21. The firm has a market capitalization of $55.78 billion, a PE ratio of -31.55, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Equities research analysts anticipate that Truist Financial will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors and hedge funds have recently modified their holdings of TFC. Cannon Financial Strategists Inc. bought a new stake in Truist Financial in the second quarter valued at approximately $286,000. Sanctuary Advisors LLC acquired a new position in shares of Truist Financial in the second quarter valued at approximately $8,606,000. Farmers National Bank increased its holdings in Truist Financial by 18.9% during the 2nd quarter. Farmers National Bank now owns 54,935 shares of the insurance provider’s stock worth $2,134,000 after purchasing an additional 8,726 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Truist Financial in the second quarter valued at about $254,000. Finally, 3Chopt Investment Partners LLC acquired a new position in shares of Truist Financial during the second quarter worth about $331,000. 71.28% of the stock is owned by institutional investors.

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.