Keefe, Bruyette & Woods Issues Positive Forecast for Truist Financial (NYSE:TFC) Stock Price

Truist Financial (NYSE:TFC) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $55.00 to $57.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 19.68% from the company’s previous close.

TFC has been the subject of several other reports. Piper Sandler increased their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Finally, Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.37.

Truist Financial Trading Up 5.9 %

TFC stock opened at $47.63 on Tuesday. The business has a fifty day moving average of $45.43 and a 200-day moving average of $43.66. The company has a market cap of $63.23 billion, a P/E ratio of 14.30, a PEG ratio of 1.86 and a beta of 1.08. Truist Financial has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. During the same period in the prior year, the business posted $0.81 earnings per share. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Truist Financial will post 3.87 EPS for the current year.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares during the last quarter. Hengehold Capital Management LLC raised its holdings in shares of Truist Financial by 1.1% in the 4th quarter. Hengehold Capital Management LLC now owns 80,838 shares of the insurance provider’s stock worth $3,507,000 after acquiring an additional 905 shares during the last quarter. Cerro Pacific Wealth Advisors LLC lifted its holdings in shares of Truist Financial by 5.1% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 18,982 shares of the insurance provider’s stock valued at $812,000 after purchasing an additional 927 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Truist Financial by 41.8% during the 4th quarter. Avior Wealth Management LLC now owns 6,289 shares of the insurance provider’s stock valued at $273,000 after acquiring an additional 1,855 shares in the last quarter. Finally, Mutual Advisors LLC boosted its holdings in Truist Financial by 16.3% during the fourth quarter. Mutual Advisors LLC now owns 36,483 shares of the insurance provider’s stock worth $1,641,000 after purchasing an additional 5,103 shares during the last quarter. Institutional investors 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.