Keefe, Bruyette & Woods Raises Truist Financial (NYSE:TFC) Price Target to $49.00

Key Points

• Keefe, Bruyette & Woods raised the price target for Truist Financial (NYSE:TFC) from $48.00 to $49.00, indicating a potential upside of 14.85% from its previous close.
• Other analysts have also adjusted their price targets, with Evercore ISI setting a target of $50.00 and Citigroup raising theirs to $55.00, reflecting a positive outlook on the stock.
• Truist Financial reported earnings of $1.04 per share for the recent quarter, exceeding expectations and showing a year-over-year revenue growth of 1.9%.

Truist Financial (NYSE:TFC - Get Free Report) had its price target lifted by Keefe, Bruyette & Woods from $48.00 to $49.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 14.85% from the stock's previous close.

Several other research analysts have also recently issued reports on the company. Evercore ISI upped their price target on Truist Financial from $48.00 to $50.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Wells Fargo & Company reissued an "equal weight" rating and set a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their target price for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Weiss Ratings reissued a "hold (c+)" rating on shares of Truist Financial in a research note on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Truist Financial from $48.00 to $54.00 and gave the company an "equal weight" rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.13.

Truist Financial Price Performance

NYSE TFC opened at $42.66 on Monday. The stock has a market capitalization of $55.01 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.36 and a beta of 0.88. Truist Financial has a 1 year low of $33.56 and a 1 year high of $49.06. The business's fifty day moving average is $45.11 and its two-hundred day moving average is $42.26. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm's revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts forecast that Truist Financial will post 4 earnings per share for the current fiscal year.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the sale, the insider directly owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Truist Financial

A number of large investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Truist Financial during the 2nd quarter worth $487,401,000. Victory Capital Management Inc. lifted its position in Truist Financial by 922.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider's stock worth $274,237,000 after acquiring an additional 6,012,817 shares during the last quarter. Invesco Ltd. lifted its position in Truist Financial by 32.0% during the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock worth $540,723,000 after acquiring an additional 3,188,999 shares during the last quarter. Nuveen LLC acquired a new position in Truist Financial during the 1st quarter worth $117,929,000. Finally, Laurel Wealth Advisors LLC lifted its position in Truist Financial by 4,121.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,335,991 shares of the insurance provider's stock worth $100,424,000 after acquiring an additional 2,280,653 shares during the last quarter. 71.28% of the stock is currently 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.

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