Citigroup Increases Truist Financial (NYSE:TFC) Price Target to $45.00

Truist Financial (NYSE:TFC) had its target price boosted by equities researchers at Citigroup from $42.00 to $45.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Citigroup’s price objective indicates a potential upside of 18.48% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Royal Bank of Canada upped their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Jefferies Financial Group upped their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Finally, Barclays upped their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Trading Down 2.1 %

Truist Financial stock opened at $37.98 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial has a 12 month low of $25.56 and a 12 month high of $39.29. The stock’s 50 day simple moving average is $36.86 and its two-hundred day simple moving average is $34.75. The firm has a market cap of $50.69 billion, a PE ratio of -28.77, a P/E/G ratio of 2.45 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts anticipate that Truist Financial will post 3.26 earnings per share for the current year.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Truist Financial

Hedge funds have recently modified their holdings of the business. Bleakley Financial Group LLC grew its holdings in shares of Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after purchasing an additional 117,524 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after purchasing an additional 1,015,338 shares during the period. Loudon Investment Management LLC grew its holdings in shares of Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares during the period. Finally, Pathstone Family Office LLC grew its holdings in shares of Truist Financial by 84.8% during the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 44,659 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

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.