Truist Financial (NYSE:TFC) Stock Rating Upgraded by Compass Point

Truist Financial (NYSE:TFC) was upgraded by stock analysts at Compass Point from a “neutral” rating to a “buy” rating in a report released on Tuesday, Briefing.com reports. The brokerage presently has a $42.00 target price on the insurance provider’s stock. Compass Point’s price target would suggest a potential upside of 8.47% from the company’s current price.

A number of other research firms have also weighed in on TFC. UBS Group upped their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Piper Sandler raised their target price on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, January 4th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company raised their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $41.59.

Truist Financial Trading Up 1.7 %

Shares of NYSE TFC traded up $0.66 during trading hours on Tuesday, reaching $38.72. The stock had a trading volume of 1,668,062 shares, compared to its average volume of 9,611,528. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a market cap of $51.68 billion, a price-to-earnings ratio of -35.80, a P/E/G ratio of 2.27 and a beta of 1.08. The business’s fifty day moving average price is $36.68 and its two-hundred day moving average price is $34.62. Truist Financial has a 52-week low of $25.56 and a 52-week high of $39.29.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. Analysts expect that Truist Financial will post 3.33 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Truist Financial

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after acquiring an additional 365,871 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after purchasing an additional 1,458,248 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after purchasing an additional 732,801 shares during the last quarter. Morgan Stanley raised its holdings in shares of Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after purchasing an additional 39,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Truist Financial by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after buying an additional 883,416 shares in the last quarter. Institutional investors and hedge funds 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.