Truist Financial (NYSE:TFC) Given Market Perform Rating at Keefe, Bruyette & Woods

Truist Financial (NYSE:TFC - Get Free Report)'s stock had its "market perform" rating restated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $48.00 price objective on the insurance provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 6.29% from the stock's current price.

TFC has been the topic of a number of other reports. Piper Sandler decreased their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Barclays decreased their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Finally, Wells Fargo & Company dropped their price target on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial Stock Down 0.5%

Shares of NYSE:TFC traded down $0.24 during mid-day trading on Wednesday, hitting $45.16. 8,841,844 shares of the company traded hands, compared to its average volume of 8,299,493. The stock has a market cap of $59.14 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.68 and a beta of 0.85. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. Truist Financial has a 12-month low of $33.56 and a 12-month high of $49.06. The stock has a 50-day moving average price of $40.71 and a two-hundred day moving average price of $41.97.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts' consensus estimates of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period last year, the company posted $0.90 earnings per share. On average, equities research analysts forecast that Truist Financial will post 4 earnings per share for the current year.

Hedge Funds Weigh In On Truist Financial

A number of hedge funds have recently made changes to their positions in the company. Capital International Investors raised its holdings in shares of Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after acquiring an additional 18,712,246 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Truist Financial by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after purchasing an additional 534,740 shares in the last quarter. Amundi grew its position in shares of Truist Financial by 4.6% in the first quarter. Amundi now owns 24,774,656 shares of the insurance provider's stock valued at $1,019,477,000 after purchasing an additional 1,091,311 shares in the last quarter. Northern Trust Corp grew its position in shares of Truist Financial by 20.5% in the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock valued at $540,723,000 after purchasing an additional 3,188,999 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

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.