Truist Financial Corporation (NYSE:TFC) has received a consensus recommendation of “Buy” from the nineteen analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $55.85.
TFC has been the subject of a number of research reports. Jefferies Financial Group raised Truist Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $58.00 in a report on Tuesday, October 8th. UBS Group dropped their target price on Truist Financial from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, October 21st. Morgan Stanley initiated coverage on Truist Financial in a report on Thursday, December 19th. They set an “equal weight” rating and a $56.00 target price for the company. Zacks Investment Research raised Truist Financial from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Wednesday, January 1st. Finally, Bank of America lifted their target price on Truist Financial from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 18th.
In related news, CEO Kelly S. King sold 201,806 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $54.22, for a total value of $10,941,921.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Brantley J. Standridge sold 8,580 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $54.90, for a total value of $471,042.00. Following the completion of the transaction, the vice president now owns 12,059 shares in the company, valued at approximately $662,039.10. The disclosure for this sale can be found here. Insiders sold 225,327 shares of company stock worth $12,227,882 in the last 90 days. 0.49% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Truist Financial in the second quarter valued at about $26,000. Reilly Financial Advisors LLC bought a new position in Truist Financial in the fourth quarter valued at about $27,000. Proffitt & Goodson Inc. grew its position in Truist Financial by 93.4% in the third quarter. Proffitt & Goodson Inc. now owns 586 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 283 shares during the last quarter. Hoey Investments Inc. bought a new position in Truist Financial in the fourth quarter valued at about $31,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Truist Financial during the third quarter valued at about $40,000. Institutional investors own 71.73% of the company’s stock.
Shares of TFC traded up $0.43 during midday trading on Friday, reaching $56.29. 5,512,210 shares of the stock were exchanged, compared to its average volume of 5,752,058. Truist Financial has a twelve month low of $44.51 and a twelve month high of $56.92. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.87. The company has a market cap of $42.97 billion, a P/E ratio of 13.90, a PEG ratio of 1.78 and a beta of 1.18. The stock’s 50 day simple moving average is $55.65 and its 200 day simple moving average is $52.21.
Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.04. Truist Financial had a return on equity of 12.25% and a net margin of 23.17%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. As a group, analysts predict that Truist Financial will post 4.26 earnings per share for the current year.
Truist Financial Company Profile
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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