Truist Financial (NYSE:TFC) Rating Lowered to Sell at Wall Street Zen

by · The Markets Daily

Truist Financial (NYSE:TFC – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also weighed in on TFC. Robert W. Baird boosted their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. HSBC started coverage on shares of Truist Financial in a research report on Monday, September 28th. They set a “buy” rating and a $61.00 target price for the company. UBS Group reduced their target price on Truist Financial from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Evercore reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Truist Financial in a report on Tuesday, October 27th. Finally, Wells Fargo & Company set a $52.00 price objective on Truist Financial in a report on Thursday, October 8th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.82.

View Our Latest Stock Analysis on TFC

Truist Financial Price Performance

Shares of TFC stock opened at $48.74 on Friday. Truist Financial has a 12 month low of $43.13 and a 12 month high of $56.19. The stock has a 50-day moving average price of $48.39 and a 200 day moving average price of $49.50. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. The firm has a market cap of $58.41 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.07 and a beta of 0.90.

Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.01). The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. Research analysts expect that Truist Financial will post 4.71 EPS for the current year.

Insider Activity at Truist Financial

In other news, CEO Michael Lyons purchased 25,000 shares of the stock in a transaction on Wednesday, October 28th. The stock was bought at an average price of $48.36 per share, with a total value of $1,209,000.00. Following the transaction, the chief executive officer owned 46,000 shares in the company, valued at $2,224,560. The trade was a 119.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is owned by insiders.

Institutional Trading of Truist Financial

Large investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in shares of Truist Financial during the 2nd quarter worth approximately $30,000. Navigoe LLC acquired a new stake in shares of Truist Financial during the second quarter worth approximately $30,000. Evolution Wealth Management Inc. boosted its holdings in Truist Financial by 2,218.2% in the first quarter. Evolution Wealth Management Inc. now owns 765 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 732 shares during the period. Wilkerson Advisory Group LLC boosted its holdings in shares of Truist Financial by 104.0% during the first quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 421 shares during the period. Finally, Elevation Wealth Partners LLC lifted its holdings in Truist Financial by 44.6% in the second quarter. Elevation Wealth Partners LLC now owns 892 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 275 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

About Truist Financial

(Get Free Report)

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.

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