Truist Financial (NYSE:TFC) Given New $47.00 Price Target at Barclays

Truist Financial (NYSE:TFC - Get Free Report) had its price objective reduced by analysts at Barclays from $51.00 to $47.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the insurance provider's stock. Barclays's price target would suggest a potential upside of 24.73% from the stock's previous close.

A number of other research firms also recently issued reports on TFC. Hsbc Global Res upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. StockNews.com upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. HSBC upgraded Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Morgan Stanley lowered their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Nine equities research analysts have rated the stock with 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Stock Down 0.6 %

Shares of TFC stock traded down $0.22 during trading hours on Monday, hitting $37.68. 6,388,693 shares of the company were exchanged, compared to its average volume of 8,140,180. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $49.19 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial has a one year low of $33.56 and a one year high of $49.06. The business's 50-day simple moving average is $40.22 and its two-hundred day simple moving average is $43.60.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates 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 last year, the firm earned $0.90 EPS. Sell-side analysts predict that Truist Financial will post 4 EPS for the current fiscal year.

Hedge Funds Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bangor Savings Bank raised its position in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock valued at $25,000 after buying an additional 272 shares during the period. Hopwood Financial Services Inc. purchased a new position in Truist Financial during the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new position in Truist Financial in the 4th quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial during the 4th quarter valued at $45,000. Finally, City State Bank grew its holdings in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after acquiring an additional 716 shares in the last quarter. Institutional investors and hedge funds 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.