UBS Group Increases Truist Financial (NYSE:TFC) Price Target to $49.00

Truist Financial (NYSE:TFC) had its price objective hoisted by UBS Group from $47.00 to $49.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other research analysts have also commented on the stock. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, July 17th. Barclays upped their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Morgan Stanley upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.02.

Truist Financial Trading Down 2.8 %

NYSE:TFC opened at $42.43 on Friday. Truist Financial has a one year low of $26.95 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market cap of $56.82 billion, a P/E ratio of -29.67, a P/E/G ratio of 1.83 and a beta of 1.05. The firm has a 50-day simple moving average of $42.70 and a 200-day simple moving average of $40.35.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Truist Financial’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. Equities analysts anticipate that Truist Financial will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Truist Financial

A number of large investors have recently added to or reduced their stakes in TFC. Virtu Financial LLC acquired a new position in Truist Financial during the fourth quarter worth $257,000. Wellington Management Group LLP raised its position in shares of Truist Financial by 475.1% in the fourth quarter. Wellington Management Group LLP now owns 252,719 shares of the insurance provider’s stock valued at $9,330,000 after buying an additional 208,772 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Truist Financial in the first quarter valued at about $132,000. Wedmont Private Capital raised its position in shares of Truist Financial by 8.7% in the first quarter. Wedmont Private Capital now owns 6,573 shares of the insurance provider’s stock valued at $256,000 after buying an additional 525 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Truist Financial by 1.4% in the first quarter. Park Avenue Securities LLC now owns 34,955 shares of the insurance provider’s stock valued at $1,363,000 after buying an additional 492 shares during the last quarter. 71.28% of the stock is currently 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.