Morgan Stanley Increases Truist Financial (NYSE:TFC) Price Target to $55.00

Key Points

• Morgan Stanley has raised its price target for Truist Financial from $54.00 to $55.00, indicating a potential upside of 28.01% from the stock's previous close.
• Truist Financial recently reported earnings of $1.04 per share, which exceeded analyst expectations, alongside revenue of $5.24 billion for the quarter.
• The stock has an average rating of "Moderate Buy" among analysts, with a consensus target price of $49.63.

Truist Financial (NYSE:TFC - Get Free Report) had its target price increased by research analysts at Morgan Stanley from $54.00 to $55.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the insurance provider's stock. Morgan Stanley's price objective points to a potential upside of 28.01% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Piper Sandler set a $48.00 price target on shares of Truist Financial in a report on Monday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Truist Financial in a research report on Wednesday, October 8th. Raymond James Financial restated an "outperform" rating on shares of Truist Financial in a research report on Tuesday, October 7th. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the company a "market perform" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.63.

Truist Financial Stock Performance

Shares of TFC stock opened at $42.96 on Monday. Truist Financial has a 52 week low of $33.56 and a 52 week high of $49.06. The firm's 50-day simple moving average is $45.11 and its two-hundred day simple moving average is $42.26. The firm has a market cap of $55.40 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.36 and a beta of 0.88. 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 announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial's revenue was up 1.9% compared to the same quarter last year. During the same period 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. As a group, equities analysts forecast that Truist Financial will post 4 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated 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 transaction, the insider directly owned 500 shares in the company, valued at $22,595. This trade represents a 96.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in Truist Financial during the 1st quarter valued at $25,000. Aspect Partners LLC increased its holdings in Truist Financial by 71.5% in the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider's stock worth $28,000 after buying an additional 268 shares in the last quarter. Darwin Wealth Management LLC raised its position in Truist Financial by 631.6% in the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider's stock worth $32,000 after buying an additional 600 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Truist Financial during the 2nd quarter valued at about $30,000. Finally, Capital A Wealth Management LLC grew its stake in shares of Truist Financial by 1,189.5% in the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider's stock worth $32,000 after acquiring an additional 678 shares during the period. Institutional investors own 71.28% of the company's stock.

About Truist Financial

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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