Truist Financial (NYSE:TFC) Price Target Increased to $46.00 by Analysts at Keefe, Bruyette & Woods

Truist Financial (NYSE:TFC) had its target price hoisted by equities research analysts at Keefe, Bruyette & Woods from $45.00 to $46.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 18.37% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Wells Fargo & Company boosted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, HSBC raised their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $41.94.

Truist Financial Price Performance

Shares of Truist Financial stock traded down $0.25 on Wednesday, reaching $38.86. The company’s stock had a trading volume of 696,980 shares, compared to its average volume of 9,358,247. Truist Financial has a 52-week low of $26.49 and a 52-week high of $40.35. The company has a market capitalization of $51.86 billion, a P/E ratio of -29.52, a PEG ratio of 2.03 and a beta of 1.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $37.34 and a 200-day moving average price of $35.39.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. Analysts expect that Truist Financial will post 3.3 EPS for the current year.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its position in Truist Financial by 10.3% in the 3rd quarter. Mackenzie Financial Corp now owns 152,687 shares of the insurance provider’s stock worth $4,152,000 after purchasing an additional 14,230 shares during the last quarter. NBT Bank N A NY raised its position in Truist Financial by 2.9% during the third quarter. NBT Bank N A NY now owns 12,781 shares of the insurance provider’s stock valued at $366,000 after acquiring an additional 366 shares in the last quarter. Advisor Partners II LLC grew its position in Truist Financial by 87.0% in the third quarter. Advisor Partners II LLC now owns 43,040 shares of the insurance provider’s stock worth $1,231,000 after acquiring an additional 20,029 shares in the last quarter. Conning Inc. grew its position in Truist Financial by 5.0% in the third quarter. Conning Inc. now owns 7,815 shares of the insurance provider’s stock worth $224,000 after acquiring an additional 370 shares in the last quarter. Finally, Gratus Capital LLC raised its holdings in shares of Truist Financial by 10.4% during the 3rd quarter. Gratus Capital LLC now owns 10,670 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 1,002 shares in the last quarter. 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.