Truist Financial (NYSE:TFC) Downgraded to Sell Rating by Wall Street Zen

Truist Financial (NYSE:TFC) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Monday.

A number of other research analysts have also commented on the stock. Morgan Stanley dropped their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Royal Bank Of Canada boosted their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.79.

Truist Financial Stock Performance

Shares of TFC opened at $50.48 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market cap of $62.90 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. The company’s 50 day simple moving average is $49.17 and its 200-day simple moving average is $49.35. Truist Financial has a 12-month low of $40.78 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. Truist Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts predict that Truist Financial will post 4.5 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TFC. Kemnay Advisory Services Inc. purchased a new position in Truist Financial during the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in Truist Financial in the 4th quarter valued at approximately $26,000. McMillan Office Inc. purchased a new stake in Truist Financial in the 4th quarter valued at approximately $31,000. Maseco LLP increased its position in Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.