Truist Financial (NYSE:TFC) Earns Market Perform Rating from Raymond James Financial

Truist Financial (NYSE:TFC)‘s stock had its “market perform” rating restated by analysts at Raymond James Financial in a report released on Wednesday,Benzinga reports.

A number of other brokerages also recently commented on TFC. JPMorgan Chase & Co. cut their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Morgan Stanley decreased their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Finally, Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.26.

Truist Financial Stock Down 1.5%

Shares of NYSE:TFC opened at $49.83 on Wednesday. The stock has a 50-day simple moving average of $49.17 and a 200-day simple moving average of $49.37. The stock has a market capitalization of $62.08 billion, a P/E ratio of 12.36, a PEG ratio of 0.87 and a beta of 0.89. Truist Financial has a 1 year low of $40.78 and a 1 year high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. Truist Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. Equities analysts forecast that Truist Financial will post 4.5 earnings per share for the current year.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds have recently bought and sold shares of TFC. Kemnay Advisory Services Inc. acquired a new position in shares of Truist Financial in the 4th quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of Truist Financial during the fourth quarter worth approximately $26,000. McMillan Office Inc. bought a new stake in shares of Truist Financial in the fourth quarter worth $31,000. Maseco LLP raised its holdings in Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.