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

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

TFC has been the subject of a number of other research reports. Barclays boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Citigroup increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $52.00 in a report on Wednesday. The Goldman Sachs Group increased their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Raymond James upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Trading Down 1.5 %

Shares of TFC stock opened at $43.11 on Wednesday. Truist Financial has a 1-year low of $34.51 and a 1-year high of $49.06. The firm’s 50-day simple moving average is $45.79 and its 200-day simple moving average is $44.67. The firm has a market cap of $56.27 billion, a P/E ratio of 12.94, a PEG ratio of 1.63 and a beta of 1.08. 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 released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Truist Financial will post 4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Truist Financial during the fourth quarter worth $36,749,000. LifeWealth Investments LLC bought a new position in shares of Truist Financial in the 4th quarter worth about $318,000. Heck Capital Advisors LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at about $314,000. Integrated Advisors Network LLC grew its position in shares of Truist Financial by 4.8% during the 4th quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider’s stock valued at $274,000 after buying an additional 291 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in Truist Financial during the fourth quarter worth about $22,558,000. 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.