Truist Financial (NYSE:TFC) PT Raised to $46.00

Truist Financial (NYSE:TFC) had its target price hoisted by Royal Bank of Canada from $45.00 to $46.00 in a research note published on Friday morning, Marketbeat reports. They currently have an outperform rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on TFC. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their target price for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Barclays raised their price target on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group decreased their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.02.

Truist Financial Stock Down 2.8 %

Shares of NYSE:TFC opened at $42.43 on Friday. The stock has a market cap of $56.82 billion, a price-to-earnings ratio of -29.67, a PEG ratio of 1.83 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial has a 12-month low of $26.95 and a 12-month high of $45.31. The business’s 50 day moving average is $42.70 and its 200 day moving average is $40.35.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. On average, sell-side analysts forecast that Truist Financial will post 3.57 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 firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth $29,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 2nd quarter worth $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial during the 2nd quarter worth $31,000. Finally, Hobbs Group Advisors LLC bought a new stake in Truist Financial in the second quarter worth $38,000. 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.