Truist Financial (NYSE:TFC) Rating Lowered to “Sell” at StockNews.com

Truist Financial (NYSE:TFC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other research analysts have also recently commented on the company. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Raymond James cut Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Stock Up 1.1 %

NYSE TFC opened at $38.78 on Monday. The business has a fifty day moving average price of $39.87 and a two-hundred day moving average price of $43.55. The stock has a market capitalization of $50.62 billion, a PE ratio of 11.65, a PEG ratio of 1.63 and a beta of 0.91. Truist Financial has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period last year, the firm posted $0.90 earnings per share. Equities analysts expect that Truist Financial will post 4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

Several hedge funds and other institutional investors have recently bought and sold shares of TFC. Capital International Investors increased its position in Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after acquiring an additional 534,740 shares in the last quarter. Amundi raised its position in shares of Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after purchasing an additional 1,450,323 shares during the period. Northern Trust Corp lifted its holdings in shares of Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Truist Financial by 13.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock valued at $465,827,000 after purchasing an additional 1,307,252 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.