Stephens Has Lowered Expectations for Truist Financial (NYSE:TFC) Stock Price

Truist Financial (NYSE:TFC) had its target price decreased by equities researchers at Stephens from $48.00 to $46.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Stephens’ price target points to a potential upside of 31.13% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Piper Sandler dropped their price objective on Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Morgan Stanley decreased their price objective on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.83.

Truist Financial Stock Down 2.3 %

Shares of TFC stock traded down $0.82 on Monday, reaching $35.08. 1,965,106 shares of the stock were exchanged, compared to its average volume of 8,136,729. Truist Financial has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $45.79 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.63 and a beta of 0.91. The business’s 50 day moving average price is $41.21 and its 200 day moving average price is $43.81.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, sell-side analysts expect that Truist Financial will post 4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently modified their holdings of TFC. Bangor Savings Bank grew its position in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in Truist Financial during the fourth quarter worth about $26,000. Navigoe LLC purchased a new position in Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at $45,000. Finally, City State Bank lifted its stake in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.