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

Truist Financial (NYSE:TFC)‘s stock had its “overweight” rating reissued by equities research analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $54.00 price objective on the insurance provider’s stock. Stephens’ target price points to a potential upside of 22.45% from the stock’s previous close.

TFC has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, UBS Group increased their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.74.

Truist Financial Stock Performance

NYSE:TFC opened at $44.10 on Thursday. The stock has a market capitalization of $58.54 billion, a P/E ratio of -30.84, a PEG ratio of 1.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The company has a 50 day moving average price of $45.27 and a 200 day moving average price of $43.00.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Equities research analysts forecast that Truist Financial will post 3.7 EPS for the current year.

Insider Buying and Selling at Truist Financial

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

Institutional Trading of Truist Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in shares of Truist Financial by 255.7% in the 2nd quarter. Van ECK Associates Corp now owns 84,016 shares of the insurance provider’s stock valued at $3,264,000 after acquiring an additional 60,395 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Truist Financial by 165.3% during the second quarter. Farther Finance Advisors LLC now owns 9,488 shares of the insurance provider’s stock valued at $372,000 after buying an additional 5,912 shares during the last quarter. Natixis Advisors LLC grew its holdings in Truist Financial by 17.9% in the 2nd quarter. Natixis Advisors LLC now owns 420,950 shares of the insurance provider’s stock worth $16,354,000 after buying an additional 64,001 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Truist Financial by 0.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 114,915 shares of the insurance provider’s stock valued at $4,464,000 after acquiring an additional 918 shares during the period. Finally, Larson Financial Group LLC raised its stake in Truist Financial by 22.8% during the 2nd quarter. Larson Financial Group LLC now owns 2,454 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 456 shares in the last quarter. 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.