Truist Financial (NYSE:TFC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Truist Financial (NYSE:TFC) had its price target lifted by equities research analysts at Piper Sandler from $46.00 to $51.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Piper Sandler’s price objective suggests a potential upside of 10.34% from the stock’s current price.

TFC has been the subject of several other research reports. Royal Bank of Canada upped their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Compass Point raised their price objective on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Citigroup increased their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.67.

Truist Financial Price Performance

Shares of NYSE TFC opened at $46.22 on Tuesday. Truist Financial has a 1-year low of $32.78 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The business’s fifty day moving average price is $44.51 and its two-hundred day moving average price is $41.96. The firm has a market capitalization of $61.36 billion, a PE ratio of -32.32, a P/E/G ratio of 1.93 and a beta of 1.06.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share 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 for the quarter, compared to analyst estimates of $5.05 billion. On average, research analysts expect that Truist Financial will post 3.7 EPS for the current year.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction on Monday, November 25th. The shares were 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 directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

Several hedge funds have recently bought and sold shares of the business. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the second quarter valued at about $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial in the second quarter valued at about $31,000. Finally, Fortitude Family Office LLC grew its position in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the last quarter. 71.28% of the stock is 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.