Several brokerages have updated their recommendations and price targets on shares of Truist Financial (NYSE: TFC) in the last few weeks:
- 7/30/2024 – Truist Financial had its price target raised by analysts at Morgan Stanley from $46.00 to $51.00. They now have an “equal weight” rating on the stock.
- 7/24/2024 – Truist Financial was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $47.00 price target on the stock, up previously from $45.00.
- 7/23/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
- 7/23/2024 – Truist Financial had its price target raised by analysts at Keefe, Bruyette & Woods from $46.00 to $48.00. They now have an “outperform” rating on the stock.
- 7/23/2024 – Truist Financial had its price target raised by analysts at Royal Bank of Canada from $42.00 to $45.00. They now have an “outperform” rating on the stock.
- 7/23/2024 – Truist Financial had its price target raised by analysts at Morgan Stanley from $44.00 to $46.00. They now have an “equal weight” rating on the stock.
- 7/23/2024 – Truist Financial had its price target raised by analysts at Barclays PLC from $43.00 to $47.00. They now have an “equal weight” rating on the stock.
- 7/23/2024 – Truist Financial had its price target raised by analysts at Argus from $44.00 to $51.00. They now have a “buy” rating on the stock.
- 7/23/2024 – Truist Financial had its price target raised by analysts at The Goldman Sachs Group, Inc. from $45.00 to $50.00. They now have a “buy” rating on the stock.
- 7/23/2024 – Truist Financial had its price target raised by analysts at Bank of America Co. from $45.00 to $50.00. They now have a “buy” rating on the stock.
- 7/17/2024 – Truist Financial was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $45.00 price target on the stock.
- 7/17/2024 – Truist Financial was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating.
- 7/4/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
- 6/26/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
- 6/13/2024 – Truist Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
- 6/4/2024 – Truist Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
Truist Financial Price Performance
Shares of TFC stock traded up $0.32 during mid-day trading on Tuesday, reaching $44.78. The stock had a trading volume of 1,448,245 shares, compared to its average volume of 8,468,868. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.02. The company has a market cap of $59.92 billion, a P/E ratio of -33.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. The business has a 50-day simple moving average of $38.92 and a 200 day simple moving average of $37.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.57 earnings per share for the current year.
Truist Financial Dividend Announcement
Insider Buying and Selling
In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
Institutional Trading of Truist Financial
A number of hedge funds have recently added to or reduced their stakes in TFC. Crewe Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth about $29,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the 2nd quarter worth about $30,000. Missouri Trust & Investment Co boosted its stake in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth about $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.
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.
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