Truist Financial (NYSE:TFC - Get Free Report) was upgraded by stock analysts at TD Cowen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday,Finviz reports. The brokerage currently has a $55.00 target price on the insurance provider's stock. TD Cowen's price target indicates a potential upside of 26.62% from the company's current price.
TFC has been the topic of a number of other research reports. Morgan Stanley upped their price target on shares of Truist Financial from $54.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday. Weiss Ratings restated a "hold (c+)" rating on shares of Truist Financial in a research note on Wednesday, October 8th. Raymond James Financial restated an "outperform" rating on shares of Truist Financial in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Monday. Finally, Piper Sandler set a $48.00 price objective on shares of Truist Financial in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.31.
Check Out Our Latest Analysis on Truist Financial
Truist Financial Trading Up 2.0%
NYSE:TFC opened at $43.44 on Tuesday. Truist Financial has a one year low of $33.56 and a one year high of $49.06. 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 firm has a market cap of $56.01 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.36 and a beta of 0.88. The firm has a 50-day simple moving average of $45.13 and a 200-day simple moving average of $42.32.
Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS 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 net margin of 16.84% and a return on equity of 8.73%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts anticipate that Truist Financial will post 4 EPS for the current fiscal year.
Institutional Investors Weigh In On Truist Financial
A number of hedge funds have recently modified their holdings of the business. Financial Consulate Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at about $247,000. Salomon & Ludwin LLC increased its position in Truist Financial by 1.1% during the third quarter. Salomon & Ludwin LLC now owns 21,934 shares of the insurance provider's stock worth $998,000 after purchasing an additional 239 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its position in shares of Truist Financial by 0.8% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 440,455 shares of the insurance provider's stock valued at $20,138,000 after acquiring an additional 3,368 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Truist Financial by 157.7% in the third quarter. Mather Group LLC. now owns 16,249 shares of the insurance provider's stock valued at $743,000 after purchasing an additional 9,944 shares during the period. Finally, Accurate Wealth Management LLC boosted its stake in shares of Truist Financial by 11.4% in the third quarter. Accurate Wealth Management LLC now owns 9,208 shares of the insurance provider's stock valued at $404,000 after purchasing an additional 942 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.
Truist Financial Company Profile
(
Get Free Report)
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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