Barclays Issues Positive Forecast for Truist Financial (NYSE:TFC) Stock Price

Truist Financial (NYSE:TFC) had its price target increased by analysts at Barclays from $47.00 to $51.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price objective suggests a potential upside of 14.38% from the stock’s previous close.

Several other research analysts have also recently weighed in on TFC. Stephens restated an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a research report on Thursday. Citigroup increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Royal Bank of Canada raised their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Compass Point increased their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.39.

Truist Financial Price Performance

Shares of TFC stock traded up $0.49 during trading hours on Monday, hitting $44.59. The company had a trading volume of 2,790,644 shares, compared to its average volume of 4,235,065. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $59.19 billion, a price-to-earnings ratio of -31.18, a PEG ratio of 1.88 and a beta of 1.08. Truist Financial has a 12 month low of $34.23 and a 12 month high of $49.06. The firm’s fifty day moving average is $45.30 and its 200 day moving average is $43.14.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. On average, sell-side analysts predict that Truist Financial will post 3.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Truist Financial

A number of hedge funds have recently modified their holdings of TFC. Tradewinds LLC. increased its stake in Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares during the period. Burkett Financial Services LLC boosted its holdings in Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 253 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Truist Financial by 2.7% in the third quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock valued at $445,000 after purchasing an additional 270 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Truist Financial by 1.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after buying an additional 274 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its stake in Truist Financial by 1.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 21,733 shares of the insurance provider’s stock worth $930,000 after acquiring an additional 280 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

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.