JPMorgan Chase & Co. Issues Pessimistic Forecast for Truist Financial (NYSE:TFC) Stock Price

Truist Financial (NYSE:TFC) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $48.00 to $42.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.68% from the company’s current price.

Several other equities analysts have also issued reports on the stock. Citigroup cut their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Stephens upped their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company lowered their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.42.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $34.80 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $45.43 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The firm has a 50 day moving average of $43.97 and a 200 day moving average of $44.30. Truist Financial has a 52 week low of $33.71 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. On average, sell-side analysts predict that Truist Financial will post 4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Bangor Savings Bank increased its stake in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial in the fourth quarter valued at approximately $26,000. Navigoe LLC purchased a new stake in shares of Truist Financial during the fourth quarter worth approximately $26,000. Curio Wealth LLC purchased a new position in Truist Financial in the 4th quarter valued at $45,000. Finally, City State Bank lifted its stake in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after buying an additional 716 shares in 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.