Truist Financial (NYSE:TFC) Downgraded to “Sell” at StockNews.com

Truist Financial (NYSE:TFC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued research reports about the company. Barclays started coverage on Truist Financial in a research note on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price target on the stock. Evercore ISI reissued an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a report on Thursday, May 9th. Jefferies Financial Group upped their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Trading Down 1.7 %

NYSE:TFC opened at $38.87 on Thursday. The stock has a market capitalization of $52.01 billion, a price-to-earnings ratio of -29.45, a PEG ratio of 2.04 and a beta of 1.07. Truist Financial has a 52 week low of $26.57 and a 52 week high of $40.51. 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 firm has a 50 day moving average of $37.93 and a 200 day moving average of $37.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Truist Financial will post 3.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

Hedge funds have recently modified their holdings of the business. Crewe Advisors LLC purchased a new stake in Truist Financial in the 1st quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new stake in Truist Financial during the first quarter worth about $29,000. Missouri Trust & Investment Co raised its stake in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Rise Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at about $32,000. Finally, Morton Brown Family Wealth LLC grew its stake in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

About Truist Financial

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.