Truist Financial (NYSE:TFC) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Truist Financial (NYSE:TFC) had its price target increased by research analysts at Robert W. Baird from $55.00 to $56.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Robert W. Baird’s price objective suggests a potential upside of 9.08% from the company’s current price.

A number of other equities analysts also recently issued reports on TFC. Evercore reiterated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a report on Monday, July 6th. Bank of America restated a “neutral” rating and set a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. Stephens assumed coverage on shares of Truist Financial in a research note on Monday, June 15th. They issued an “overweight” rating and a $59.00 price target for the company. Finally, Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $63.00 to $54.00 in a research report on Tuesday, June 30th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.61.

Truist Financial Stock Up 0.7%

TFC stock opened at $51.34 on Monday. Truist Financial has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a market capitalization of $63.96 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.89 and a beta of 0.89. The business’s 50 day moving average price is $49.53 and its two-hundred day moving average price is $49.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts forecast that Truist Financial will post 4.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in Truist Financial during the 4th quarter valued at about $26,000. McMillan Office Inc. purchased a new stake in Truist Financial during the 4th quarter valued at about $31,000. Maseco LLP increased its stake in Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake 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 valued at $32,000 after purchasing an additional 431 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

About Truist Financial

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.