Truist Financial (NYSE:TFC) Stock Rating Lowered by Keefe, Bruyette & Woods

Truist Financial (NYSE:TFC - Get Free Report) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $48.00 price objective on the insurance provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 4.86% from the stock's current price.

TFC has been the topic of several other research reports. Argus set a $43.00 price target on shares of Truist Financial in a report on Monday, April 21st. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. JPMorgan Chase & Co. cut their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley cut their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial Trading Up 1.4%

Shares of NYSE:TFC traded up $0.62 on Wednesday, reaching $45.78. 2,820,770 shares of the company traded hands, compared to its average volume of 8,288,931. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $59.94 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85. Truist Financial has a 52 week low of $33.56 and a 52 week high of $49.06. The business's 50-day simple moving average is $40.84 and its 200 day simple moving average is $42.00.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, equities analysts anticipate that Truist Financial will post 4 EPS for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in Truist Financial by 3.6% during the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after buying an additional 15,499 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Truist Financial by 81.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock worth $48,085,000 after purchasing an additional 498,531 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Truist Financial by 4.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock worth $17,927,000 after purchasing an additional 19,286 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Truist Financial by 2.8% in the 4th quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock worth $97,291,000 after purchasing an additional 60,848 shares in the last quarter. Finally, Pinnacle Financial Partners Inc increased its stake in shares of Truist Financial by 55.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider's stock worth $5,530,000 after purchasing an additional 47,717 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

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.