Truist Financial (NYSE:TFC) Earns “Overweight” Rating from Stephens

Truist Financial (NYSE:TFC)‘s stock had its “overweight” rating reissued by Stephens in a report issued on Tuesday, Benzinga reports. They presently have a $50.00 target price on the insurance provider’s stock. Stephens’ target price would suggest a potential upside of 20.05% from the company’s previous close.

TFC has been the subject of a number of other research reports. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Argus raised their price target on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Bank of America upped their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.45.

Truist Financial Stock Down 0.6 %

TFC opened at $41.65 on Tuesday. Truist Financial has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The company has a market capitalization of $55.78 billion, a P/E ratio of -31.55, a P/E/G ratio of 1.97 and a beta of 1.06. The stock has a fifty day moving average of $42.41 and a 200-day moving average of $39.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, equities analysts expect that Truist Financial will post 3.55 EPS for the current year.

Insider Activity at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Truist Financial

Large investors have recently added to or reduced their stakes in the company. Cannon Financial Strategists Inc. acquired a new position in Truist Financial during the second quarter valued at $286,000. Sanctuary Advisors LLC acquired a new position in shares of Truist Financial in the 2nd quarter valued at $8,606,000. Farmers National Bank boosted its holdings in Truist Financial by 18.9% during the second quarter. Farmers National Bank now owns 54,935 shares of the insurance provider’s stock worth $2,134,000 after buying an additional 8,726 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Truist Financial during the second quarter valued at $254,000. Finally, 3Chopt Investment Partners LLC acquired a new stake in shares of Truist Financial during the 2nd quarter valued at about $331,000. 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.