Truist Financial (NYSE:TFC) Given New $46.00 Price Target at Keefe, Bruyette & Woods

Truist Financial (NYSE:TFC) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $45.00 to $46.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 17.65% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group raised their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. raised their price target on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Stephens reissued an “overweight” rating and set a $43.00 price objective on shares of Truist Financial in a research note on Tuesday, April 23rd. Finally, TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Truist Financial Stock Performance

NYSE:TFC opened at $39.10 on Wednesday. The company has a market capitalization of $52.18 billion, a price-to-earnings ratio of -29.62, a PEG ratio of 2.03 and a beta of 1.07. The business has a 50 day moving average of $37.43 and a 200 day moving average of $35.42. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial has a 1-year low of $26.49 and a 1-year high of $40.35.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business posted $1.09 EPS. The business’s quarterly revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts predict that Truist Financial will post 3.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Truist Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new position in Truist Financial during the third quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial during the first quarter valued at $29,000. Operose Advisors LLC purchased a new position in shares of Truist Financial in the 3rd quarter worth about $31,000. Missouri Trust & Investment Co boosted its stake in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in Truist Financial during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

About Truist Financial

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.