Truist Financial (NYSE:TFC) Stock Rating Upgraded by StockNews.com

Truist Financial (NYSE:TFC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

TFC has been the topic of a number of other research reports. Wells Fargo & Company raised their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group lifted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Finally, Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.95.

Truist Financial Price Performance

Shares of TFC opened at $47.63 on Friday. Truist Financial has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a market capitalization of $63.23 billion, a P/E ratio of -33.31, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The firm has a 50 day moving average of $45.40 and a 200 day moving average of $43.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5,047,370 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial will post 3.61 earnings per share for the current fiscal year.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Truist Financial

A number of large investors have recently bought and sold shares of the business. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the 3rd quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new stake in Truist Financial during the 3rd quarter valued at about $32,000. Fortitude Family Office LLC boosted its position in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial in the 3rd quarter worth about $45,000. Hedge funds and other institutional investors 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.