Truist Financial (NYSE:TFC) Lowered to "Sell" Rating by StockNews.com

Truist Financial (NYSE:TFC - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

Several other brokerages also recently weighed in on TFC. Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. Barclays raised their target price on Truist Financial from $47.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday. Stephens reiterated an "overweight" rating and issued a $54.00 price target on shares of Truist Financial in a research note on Thursday, January 2nd. Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their target price on Truist Financial from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.89.

Truist Financial Trading Down 0.1 %

NYSE:TFC traded down $0.04 on Thursday, hitting $43.93. 5,727,141 shares of the stock were exchanged, compared to its average volume of 5,850,768. Truist Financial has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The stock has a fifty day moving average of $45.36 and a 200-day moving average of $43.26. The stock has a market cap of $58.32 billion, a PE ratio of -30.72, a PEG ratio of 1.88 and a beta of 1.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, equities analysts expect that Truist Financial will post 3.7 earnings per share for the current fiscal year.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company's stock, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the business's stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On Truist Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bangor Savings Bank boosted its holdings 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 acquiring an additional 272 shares during the period. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter worth approximately $26,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial in the second quarter worth $31,000. MidAtlantic Capital Management Inc. bought a new position in Truist Financial during the third quarter worth $32,000. Finally, Fortitude Family Office LLC raised its stake in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 678 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.

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