Truist Financial (NYSE:TFC) Upgraded at HSBC

Truist Financial (NYSE:TFC) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a report released on Tuesday, Marketbeat reports. The firm presently has a $50.00 price target on the insurance provider’s stock. HSBC’s price target points to a potential upside of 13.82% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Compass Point lifted their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays raised their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday. Piper Sandler raised their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Citigroup raised their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Hold” and an average price target of $49.89.

Truist Financial Stock Down 0.1 %

Shares of NYSE TFC opened at $43.93 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $58.32 billion, a PE ratio of -30.72, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The stock’s fifty day simple moving average is $45.34 and its two-hundred day simple moving average is $43.25. Truist Financial has a 12-month low of $34.23 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, analysts expect that Truist Financial will post 3.7 EPS for the current fiscal year.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Several institutional investors have recently modified their holdings of TFC. Principal Financial Group Inc. grew its stake in shares of Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares in the last quarter. Cadence Bank boosted its stake in Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after acquiring an additional 93,322 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC raised its holdings in shares of Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after buying an additional 61,683 shares during the last quarter. Finally, Independent Advisor Alliance raised its holdings in shares of Truist Financial by 10.7% in the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock valued at $12,087,000 after buying an additional 27,408 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

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.