Truist Financial (NYSE:TFC)‘s stock had its “buy” rating reaffirmed by Royal Bank of Canada in a research note issued to investors on Monday, AnalystRatings.com reports.
A number of other equities research analysts have also recently issued reports on TFC. Bank of America upped their target price on shares of Truist Financial from $53.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 18th. Citigroup upped their target price on shares of Truist Financial from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Credit Suisse Group started coverage on shares of Truist Financial in a report on Monday, December 16th. They issued a “neutral” rating and a $55.00 target price on the stock. UBS Group lowered their price target on shares of Truist Financial from $53.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. Finally, Morgan Stanley started coverage on shares of Truist Financial in a report on Thursday, December 19th. They issued an “equal weight” rating and a $56.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Truist Financial presently has a consensus rating of “Buy” and a consensus price target of $55.85.
Shares of NYSE:TFC opened at $51.57 on Monday. The company’s 50-day moving average price is $55.87 and its two-hundred day moving average price is $52.59. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.85 and a quick ratio of 0.84. Truist Financial has a one year low of $44.51 and a one year high of $56.92. The stock has a market capitalization of $39.52 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.71 and a beta of 1.18.
Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 30th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.10. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Truist Financial had a net margin of 23.17% and a return on equity of 12.25%. During the same period in the prior year, the firm earned $1.05 EPS. On average, analysts anticipate that Truist Financial will post 4.27 earnings per share for the current fiscal year.
In other Truist Financial news, VP Brantley J. Standridge sold 8,580 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $54.90, for a total transaction of $471,042.00. Following the transaction, the vice president now owns 12,059 shares in the company, valued at approximately $662,039.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kelly S. King sold 201,806 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $54.22, for a total transaction of $10,941,921.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,327 shares of company stock worth $12,227,882. Insiders own 0.49% of the company’s stock.
Several large investors have recently made changes to their positions in TFC. Massachusetts Financial Services Co. MA boosted its position in shares of Truist Financial by 2.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,799,250 shares of the insurance provider’s stock worth $1,590,386,000 after acquiring an additional 790,879 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $289,343,000. Schafer Cullen Capital Management Inc acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $201,678,000. Sanders Capital LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $182,537,000. Finally, California Public Employees Retirement System acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $178,225,000. Hedge funds and other institutional investors own 72.17% of the company’s stock.
About Truist Financial
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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