StockNews.com Downgrades Truist Financial (NYSE:TFC) to Sell

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 to investors on Wednesday.

Other analysts have also issued research reports about the stock. Barclays started coverage on Truist Financial in a research note on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Jefferies Financial Group upped their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Truist Financial Stock Performance

NYSE:TFC opened at $37.86 on Wednesday. The firm has a market cap of $50.65 billion, a price-to-earnings ratio of -28.68, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial has a 1-year low of $26.57 and a 1-year high of $40.51. The firm’s fifty day moving average price is $37.81 and its 200 day moving average price is $37.09.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, sell-side analysts expect that Truist Financial will post 3.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth about $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the first quarter valued at approximately $29,000. Operose Advisors LLC acquired a new position in Truist Financial in the 3rd quarter valued at $31,000. Missouri Trust & Investment Co lifted its position in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in Truist Financial during the first quarter valued at about $32,000. 71.28% of the stock is 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.