Truist Financial (NYSE:TFC) Raised to “Outperform” at Robert W. Baird

Truist Financial (NYSE:TFC) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has a $52.00 target price on the insurance provider’s stock, up from their previous target price of $48.00. Robert W. Baird’s price target suggests a potential upside of 23.12% from the stock’s current price.

Several other equities research analysts also recently weighed in on TFC. Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Citigroup boosted their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Barclays upped their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley upped their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Down 2.0 %

Shares of NYSE:TFC opened at $42.24 on Wednesday. Truist Financial has a 12-month low of $34.51 and a 12-month high of $49.06. The stock has a market capitalization of $55.13 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.63 and a beta of 1.08. The stock has a fifty day simple moving average of $45.76 and a two-hundred day simple moving average of $44.66. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced 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 company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. On average, research analysts anticipate that Truist Financial will post 4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors boosted its position in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the period. State Street Corp boosted its holdings in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares during the period. Geode Capital Management LLC increased its stake in Truist Financial by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after buying an additional 534,740 shares in the last quarter. Amundi raised its holdings in Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after acquiring an additional 1,450,323 shares during the period. Finally, Northern Trust Corp raised its holdings in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after acquiring an additional 2,452,239 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Company Profile

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.