Truist Financial (NYSE:TFC) Downgraded by StockNews.com to “Sell”

Truist Financial (NYSE:TFC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other brokerages have also recently weighed in on TFC. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Morgan Stanley boosted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Compass Point lifted their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. HSBC raised 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, Wells Fargo & Company reduced their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $50.42.

Truist Financial Trading Down 10.8 %

Shares of NYSE:TFC traded down $4.51 during mid-day trading on Thursday, reaching $37.06. 17,867,927 shares of the company were exchanged, compared to its average volume of 7,788,757. The firm has a market cap of $48.37 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial has a 1 year low of $35.09 and a 1 year high of $49.06. The firm’s 50-day simple moving average is $44.21 and its 200 day simple moving average is $44.36.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business posted $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Truist Financial will post 4 EPS for the current year.

Institutional Trading of Truist Financial

Several institutional investors and hedge funds have recently bought and sold shares of TFC. Capital International Investors raised its holdings in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after buying an additional 18,712,246 shares during the last quarter. State Street Corp raised its stake in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC lifted its position in Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after acquiring an additional 534,740 shares during the period. Amundi grew its stake in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Truist Financial by 20.5% in the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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.