Truist Financial (NYSE:TFC) Price Target Raised to $51.00

Truist Financial (NYSE:TFC) had its price target increased by analysts at Citigroup from $47.00 to $51.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Citigroup’s price objective points to a potential upside of 6.91% from the company’s current price.

A number of other research analysts also recently issued reports on TFC. JPMorgan Chase & Co. upped their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. Royal Bank of Canada upped their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.17.

Truist Financial Trading Down 0.8 %

Shares of Truist Financial stock opened at $47.71 on Monday. The stock has a fifty day simple moving average of $43.91 and a 200 day simple moving average of $41.66. Truist Financial has a 12-month low of $31.23 and a 12-month high of $49.06. The company has a market capitalization of $63.33 billion, a P/E ratio of -33.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

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

Institutional Trading of Truist Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at about $32,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Truist Financial in the 2nd quarter valued at about $31,000. Finally, Fortitude Family Office LLC raised its holdings in shares of 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 acquiring an additional 678 shares in the last quarter. 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.