Truist Financial Corporation (NYSE:TFC) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Consensus "Moderate Buy" — 15 analysts cover Truist: 10 give a buy, 4 hold and 1 sell, with an average 1‑year price target of $55.41.
• Multiple brokers have recently upgraded TFC and raised targets (e.g., Citigroup to $63, Raymond James to $56, TD Cowen to $60, Robert W. Baird to $52), signaling increased analyst optimism.
• Truist beat Q1 estimates, reporting EPS of $1.09 versus $1.00 and revenue of $5.20B versus $5.18B; the bank has a P/E of 12.72, market cap about $63.6B and ~71% institutional ownership.

Truist Financial Corporation (NYSE:TFC - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $55.4063.

TFC has been the topic of a number of research reports. Weiss Ratings upgraded shares of Truist Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, April 17th. Robert W. Baird upgraded shares of Truist Financial from a "neutral" rating to an "outperform" rating and set a $52.00 price target on the stock in a report on Monday, March 9th. Citigroup lifted their price target on shares of Truist Financial from $60.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, December 31st. Raymond James Financial boosted their target price on shares of Truist Financial from $50.00 to $56.00 and gave the stock an "outperform" rating in a report on Wednesday, January 7th. Finally, TD Cowen boosted their target price on shares of Truist Financial from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd.

Insider Buying and Selling at Truist Financial

In other news, CAO Cynthia B. Powell sold 3,500 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the sale, the chief accounting officer directly owned 667 shares in the company, valued at $35,010.83. The trade was a 83.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Truist Financial

A number of large investors have recently made changes to their positions in TFC. Independent Advisor Alliance boosted its stake in shares of Truist Financial by 9.7% during the 3rd quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider's stock worth $15,046,000 after purchasing an additional 29,191 shares during the period. Cullen Capital Management LLC boosted its stake in shares of Truist Financial by 10.3% during the 3rd quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider's stock worth $209,936,000 after purchasing an additional 427,067 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Truist Financial by 18.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider's stock worth $7,728,000 after purchasing an additional 26,530 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Truist Financial by 2.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider's stock worth $19,285,000 after purchasing an additional 10,706 shares during the period. Finally, Versor Investments LP boosted its stake in shares of Truist Financial by 64.4% during the 3rd quarter. Versor Investments LP now owns 25,008 shares of the insurance provider's stock worth $1,143,000 after purchasing an additional 9,800 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $51.26 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $63.62 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.87 and a beta of 0.89. The firm's fifty day moving average is $48.16 and its two-hundred day moving average is $48.14. Truist Financial has a 52-week low of $37.51 and a 52-week high of $56.19.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. Truist Financial's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. As a group, analysts anticipate that Truist Financial will post 4.52 EPS for the current fiscal year.

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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