Truist Financial (NYSE:TFC) Stock Rating Lowered by StockNews.com

Truist Financial (NYSE:TFC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company decreased their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods decreased their target price on Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Raymond James lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. 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, Citigroup reduced their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $38.78 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 1-year low of $33.56 and a 1-year high of $49.06. The stock has a market capitalization of $50.62 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.63 and a beta of 0.91. The business has a 50-day moving average price of $39.87 and a two-hundred day moving average price of $43.55.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. Equities analysts predict that Truist Financial will post 4 earnings per share for the current year.

Institutional Investors Weigh In On Truist Financial

Several hedge funds have recently bought and sold shares of the stock. Centennial Bank AR lifted its holdings in Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Truist Financial by 114.7% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 18,225 shares of the insurance provider’s stock worth $750,000 after buying an additional 9,735 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Truist Financial by 3.4% during the first quarter. TD Private Client Wealth LLC now owns 78,564 shares of the insurance provider’s stock worth $3,233,000 after buying an additional 2,579 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Truist Financial by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,434,797 shares of the insurance provider’s stock valued at $141,342,000 after acquiring an additional 60,957 shares during the period. Finally, Argentarii LLC grew its stake in shares of Truist Financial by 5.7% in the first quarter. Argentarii LLC now owns 34,754 shares of the insurance provider’s stock valued at $1,430,000 after acquiring an additional 1,862 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.