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

Truist Financial (NYSE:TFC) was upgraded by investment analysts at Compass Point from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $42.00 price target on the insurance provider’s stock, up from their previous price target of $34.00. Compass Point’s price objective suggests a potential upside of 8.28% from the company’s previous close.

Several other research firms also recently commented on TFC. UBS Group lifted their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $43.00 in a research note on Tuesday, March 19th. Wells Fargo & Company increased their price objective on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. HSBC lifted their target price on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Stock Down 0.1 %

Shares of TFC stock opened at $38.79 on Tuesday. The stock’s fifty day moving average price is $36.83 and its 200 day moving average price is $34.73. Truist Financial has a 1-year low of $25.56 and a 1-year high of $39.29. The company has a market cap of $51.77 billion, a price-to-earnings ratio of -29.39, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, research analysts expect that Truist Financial will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Truist Financial

Several institutional investors have recently modified their holdings of the stock. Private Trust Co. NA boosted its holdings in Truist Financial by 4.0% in the 1st quarter. Private Trust Co. NA now owns 17,687 shares of the insurance provider’s stock worth $689,000 after buying an additional 675 shares during the last quarter. Patton Albertson Miller Group LLC lifted its position in shares of Truist Financial by 6.0% in the first quarter. Patton Albertson Miller Group LLC now owns 29,329 shares of the insurance provider’s stock valued at $1,143,000 after acquiring an additional 1,661 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Truist Financial by 23.9% in the first quarter. V Square Quantitative Management LLC now owns 28,047 shares of the insurance provider’s stock worth $1,093,000 after acquiring an additional 5,415 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Truist Financial by 19.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock worth $70,000 after purchasing an additional 290 shares in the last quarter. Finally, Premier Path Wealth Partners LLC raised its stake in Truist Financial by 7.0% in the 1st quarter. Premier Path Wealth Partners LLC now owns 11,831 shares of the insurance provider’s stock valued at $461,000 after purchasing an additional 779 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

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.