Truist Financial Corporation (NYSE:TFC) Stock Rated “Hold” by Wall Street Brokerages

Truist Financial Corporation (NYSE:TFC) has been assigned an average rating of “Hold” from the eighteen analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $53.87.

A number of equities research analysts have issued reports on the company. HSBC began coverage on Truist Financial in a research note on Monday, September 28th. They set a “buy” rating and a $61.00 price target for the company. Bank of America reaffirmed a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Royal Bank Of Canada decreased their price target on shares of Truist Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Stephens cut their price objective on Truist Financial from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $54.00 to $50.50 and set an “underweight” rating for the company in a report on Friday, October 2nd.

Insider Activity at Truist Financial

In related news, CEO Michael Lyons bought 21,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was purchased at an average price of $48.36 per share, for a total transaction of $1,015,560.00. Following the acquisition, the chief executive officer owned 21,000 shares in the company, valued at $1,015,560. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donta L. Wilson sold 13,280 shares of Truist Financial stock in a transaction on Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. The trade was a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.15% of the stock is owned by company insiders.

Institutional Trading of Truist Financial

Large investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its holdings in Truist Financial by 10.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 160,835 shares of the insurance provider’s stock worth $7,447,000 after acquiring an additional 15,065 shares in the last quarter. Park Avenue Securities LLC raised its stake in Truist Financial by 15.1% in the 3rd quarter. Park Avenue Securities LLC now owns 72,207 shares of the insurance provider’s stock worth $3,334,000 after acquiring an additional 9,446 shares during the last quarter. Hedeker Wealth LLC boosted its holdings in shares of Truist Financial by 1.5% in the 3rd quarter. Hedeker Wealth LLC now owns 105,748 shares of the insurance provider’s stock valued at $4,896,000 after acquiring an additional 1,576 shares during the last quarter. Provident Investment Management Inc. boosted its stake in shares of Truist Financial by 13.3% in the third quarter. Provident Investment Management Inc. now owns 26,600 shares of the insurance provider’s stock worth $1,232,000 after buying an additional 3,125 shares during the last quarter. Finally, Signaturefd LLC grew its position in Truist Financial by 2.8% during the third quarter. Signaturefd LLC now owns 48,122 shares of the insurance provider’s stock valued at $2,228,000 after buying an additional 1,308 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.9%

TFC stock opened at $48.87 on Tuesday. The business has a fifty day moving average price of $48.70 and a 200-day moving average price of $49.55. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $59.71 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.08 and a beta of 0.92. Truist Financial has a 1-year low of $43.13 and a 1-year high of $56.19.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. Equities analysts forecast that Truist Financial will post 4.66 earnings per share for the current fiscal year.

About Truist Financial

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.