Truist Financial (NYSE:TFC – Get Free Report) had its target price upped by stock analysts at Keefe, Bruyette & Woods from $53.00 to $55.00 in a report released on Monday,Benzinga reports. The firm presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 6.11% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. Jefferies Financial Group restated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. Royal Bank Of Canada raised their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Robert W. Baird boosted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday. Finally, UBS Group downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $58.00 to $55.00 in a report on Tuesday, July 7th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.72.
Check Out Our Latest Analysis on TFC
Truist Financial Price Performance
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.15. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. Analysts anticipate that Truist Financial will post 4.51 earnings per share for the current year.
Institutional Trading of Truist Financial
A number of large investors have recently bought and sold shares of the business. Kemnay Advisory Services Inc. acquired a new stake in shares of Truist Financial in the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in shares of Truist Financial in the fourth quarter worth $26,000. McMillan Office Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $31,000. Maseco LLP boosted its holdings in shares of Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying 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.
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