Truist Financial (NYSE:TFC) Raised to “Strong-Buy” at Baird R W

Truist Financial (NYSE:TFC) was upgraded by Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

TFC has been the topic of several other reports. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $48.00 to $52.00 in a report on Wednesday. Morgan Stanley raised their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Finally, Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Nine 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Down 2.0 %

TFC stock opened at $42.24 on Wednesday. The company has a market capitalization of $55.13 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial has a 12 month low of $34.51 and a 12 month high of $49.06. The firm’s fifty day simple moving average is $45.76 and its 200-day simple moving average is $44.66. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. As a group, equities research analysts forecast that Truist Financial will post 4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TFC. Bangor Savings Bank boosted 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 purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in Truist Financial during the third quarter worth about $26,000. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth about $26,000. Navigoe LLC purchased a new stake in Truist Financial during the 4th quarter valued at about $26,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the 3rd quarter valued at about $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

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.