Truist Financial (NYSE:TFC) Downgraded to Sell Rating by StockNews.com

Truist Financial (NYSE:TFC) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

TFC has been the subject of several other research reports. Stephens boosted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Barclays boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price target on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.42.

Truist Financial Stock Performance

TFC traded down $4.51 during trading on Thursday, reaching $37.06. The company’s stock had a trading volume of 17,867,927 shares, compared to its average volume of 7,788,757. The company has a market capitalization of $48.37 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company’s fifty day moving average price is $44.21 and its 200-day moving average price is $44.36. Truist Financial has a 52-week low of $35.09 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that Truist Financial will post 4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Truist Financial

Large investors have recently added to or reduced their stakes in the business. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in Truist Financial in the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new position in Truist Financial during the fourth quarter worth approximately $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter worth approximately $45,000. Finally, City State Bank boosted its holdings in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other 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.