Truist Financial (NYSE:TFC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Truist Financial (NYSE:TFC) had its price objective raised by investment analysts at Keefe, Bruyette & Woods from $55.00 to $57.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 21.25% from the stock’s previous close.

Several other analysts also recently weighed in on TFC. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Barclays increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group raised their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Trading Down 1.8 %

Shares of TFC stock opened at $47.01 on Tuesday. The business has a 50-day moving average price of $45.45 and a two-hundred day moving average price of $43.73. Truist Financial has a 12-month low of $34.23 and a 12-month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $62.41 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Equities analysts anticipate that Truist Financial will post 3.9 EPS for the current fiscal year.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bangor Savings Bank raised its stake in shares of Truist Financial by 92.5% in 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. bought a new stake in Truist Financial in the 3rd quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the 3rd quarter worth about $32,000. Fortitude Family Office LLC lifted its stake in Truist Financial by 376.7% during 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 during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Truist Financial during the 3rd quarter valued at about $45,000. 71.28% of the stock is owned by institutional investors.

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.