Truist Financial (NYSE:TFC) Stock Rating Lowered by StockNews.com

Truist Financial (NYSE:TFC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other research analysts also recently commented on TFC. Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $41.00 to $43.00 in a report on Tuesday, March 19th. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target for the company in a report on Thursday, December 14th. UBS Group raised their price target on shares of Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Royal Bank of Canada raised their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.30.

Truist Financial Trading Up 1.0 %

Shares of TFC stock opened at $38.98 on Thursday. The company has a 50 day moving average of $36.47 and a 200-day moving average of $33.46. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29. The firm has a market cap of $52.02 billion, a P/E ratio of -36.09, a PEG ratio of 1.62 and a beta of 1.07.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period last year, the firm earned $1.30 EPS. Sell-side analysts anticipate that Truist Financial will post 3.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

A number of hedge funds have recently modified their holdings of the company. Fairfield Bush & CO. purchased a new position in shares of Truist Financial during the first quarter valued at about $25,000. West Tower Group LLC purchased a new position in shares of Truist Financial during the fourth quarter valued at about $29,000. Missouri Trust & Investment Co increased its position in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Truist Financial during the fourth quarter valued at about $32,000. Finally, Northwest Financial Advisors purchased a new position in shares of Truist Financial during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.