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

Truist Financial (NYSE:TFC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities research analysts have also recently commented on the company. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Raymond James lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.22.

Truist Financial Trading Down 1.0 %

Shares of TFC opened at $35.30 on Friday. The firm’s fifty day moving average is $42.36 and its two-hundred day moving average is $44.00. The stock has a market cap of $46.08 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 52-week low of $33.56 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results 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. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. Research analysts forecast that Truist Financial will post 4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Truist Financial

Hedge funds have recently bought and sold shares of the company. Capital International Investors grew its position in Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after acquiring an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC increased its stake in Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after buying an additional 534,740 shares during the period. Amundi increased its stake in Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after buying an additional 1,450,323 shares during the period. Northern Trust Corp lifted its holdings in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after buying an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Truist Financial by 13.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock valued at $465,827,000 after buying an additional 1,307,252 shares during the period. Institutional investors and hedge funds 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.