Truist Financial (NYSE:TFC) Price Target Lowered to $47.00 at Keefe, Bruyette & Woods

Truist Financial (NYSE:TFC - Get Free Report) had its target price lowered by research analysts at Keefe, Bruyette & Woods from $53.00 to $47.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 24.65% from the stock's previous close.

A number of other research analysts have also commented on the company. Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. StockNews.com upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. Robert W. Baird upgraded shares of Truist Financial from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Finally, Barclays cut their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Monday. Nine 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 company. According to data from MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Trading Down 0.5 %

TFC stock traded down $0.19 during midday trading on Monday, hitting $37.71. The company had a trading volume of 509,123 shares, compared to its average volume of 8,114,159. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 52 week low of $33.56 and a 52 week high of $49.06. The stock has a market cap of $49.22 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.63 and a beta of 0.91. The stock's 50 day moving average price is $40.41 and its 200 day moving average price is $43.63.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, equities research analysts expect that Truist Financial will post 4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Truist Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock worth $129,000 after purchasing an additional 971 shares during the last quarter. Principal Financial Group Inc. raised its position in Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider's stock worth $64,638,000 after buying an additional 50,637 shares during the last quarter. Country Club Bank lifted its stake in Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock valued at $1,973,000 after acquiring an additional 39,949 shares during the period. David Wealth Management LLC purchased a new stake in shares of Truist Financial during the 4th quarter valued at about $2,354,000. Finally, Glass Wealth Management Co LLC grew its stake in shares of Truist Financial by 9.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider's stock worth $2,949,000 after acquiring an additional 5,900 shares during the period. 71.28% of the stock is owned by 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.