StockNews.com Downgrades Truist Financial (NYSE:TFC) to Sell

Truist Financial (NYSE:TFC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other research analysts also recently issued research reports about the company. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Citigroup decreased their price objective on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, Compass Point upped their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.42.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $34.80 on Thursday. Truist Financial has a 12-month low of $33.71 and a 12-month high of $49.06. The company’s 50 day moving average price is $43.97 and its two-hundred day moving average price is $44.30. The firm has a market cap of $45.43 billion, a PE ratio of 10.45, a PEG ratio of 1.63 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 earnings per share. Equities research analysts predict that Truist Financial will post 4 earnings per share for the current year.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently bought and sold shares of TFC. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Truist Financial by 48.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying an additional 971 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after acquiring an additional 50,637 shares during the last quarter. Country Club Bank lifted its stake in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 39,949 shares during the period. David Wealth Management LLC bought a new stake in Truist Financial in the fourth quarter valued at approximately $2,354,000. Finally, Glass Wealth Management Co LLC increased its position in Truist Financial by 9.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after purchasing an additional 5,900 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.