Truist Financial (NYSE:TFC) Price Target Raised to $57.00 at Stephens

Truist Financial (NYSE:TFCFree Report) had its target price lifted by Stephens from $54.00 to $57.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Stephens currently has an overweight rating on the insurance provider’s stock.

TFC has been the topic of a number of other reports. Raymond James upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group lifted their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler raised their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Read Our Latest Stock Analysis on TFC

Truist Financial Price Performance

Truist Financial stock opened at $47.90 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s 50 day simple moving average is $45.43 and its 200 day simple moving average is $43.66. Truist Financial has a 12 month low of $34.23 and a 12 month high of $49.06. The company has a market cap of $63.58 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.86 and a beta of 1.08.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. Sell-side analysts forecast that Truist Financial will post 3.87 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Truist Financial

A number of large investors have recently made changes to their positions in TFC. Intech Investment Management LLC increased its stake in shares of Truist Financial by 63.3% in the 2nd quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 5,585 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Truist Financial by 4.6% in the second quarter. Pacer Advisors Inc. now owns 95,577 shares of the insurance provider’s stock worth $3,713,000 after buying an additional 4,192 shares during the period. ProShare Advisors LLC lifted its position in shares of Truist Financial by 4.8% during the 2nd quarter. ProShare Advisors LLC now owns 283,534 shares of the insurance provider’s stock valued at $11,015,000 after buying an additional 13,092 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Truist Financial by 12.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,802 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 869 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in Truist Financial by 8.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 226,903 shares of the insurance provider’s stock worth $8,815,000 after acquiring an additional 17,103 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Company Profile

(Get Free Report)

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.

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