Truist Financial (NYSE:TFC) Price Target Cut to $44.00 by Analysts at Citigroup

Truist Financial (NYSE:TFC) had its price objective decreased by equities researchers at Citigroup from $51.00 to $44.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Citigroup’s target price would suggest a potential upside of 4.86% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Stephens boosted their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Performance

TFC opened at $41.96 on Monday. The business has a 50 day moving average price of $45.06 and a two-hundred day moving average price of $44.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $54.77 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial has a 1-year low of $35.09 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating 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 $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Research analysts predict that Truist Financial will post 4 EPS for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

Institutional investors have recently modified their holdings of the stock. Bangor Savings Bank increased 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 acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in Truist Financial in the fourth quarter valued at about $26,000. Navigoe LLC acquired a new position in Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth about $45,000. Finally, True Wealth Design LLC acquired a new stake in shares of Truist Financial during the 3rd quarter valued at about $51,000. 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.