Truist Financial (NYSE:TFC) Upgraded at Citigroup

Truist Financial (NYSE:TFC - Get Free Report) was upgraded by analysts at Citigroup from a "neutral" rating to a "buy" rating in a research report issued on Thursday,Finviz reports. The brokerage presently has a $55.00 target price on the insurance provider's stock. Citigroup's price target points to a potential upside of 32.66% from the company's current price.

A number of other equities analysts have also commented on TFC. Keefe, Bruyette & Woods cut their price objective on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Barclays dropped their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Morgan Stanley cut their target price on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. TD Cowen began coverage on shares of Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target for the company. Finally, Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of "Moderate Buy" and a consensus target price of $48.44.

Truist Financial Stock Up 0.0%

TFC opened at $41.46 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a market cap of $54.29 billion, a P/E ratio of 12.23, a PEG ratio of 1.54 and a beta of 0.84. The business's fifty day simple moving average is $39.40 and its 200 day simple moving average is $42.04. Truist Financial has a 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, equities research analysts anticipate that Truist Financial will post 4 EPS for the current fiscal year.

Institutional Trading of Truist Financial

Several large investors have recently modified their holdings of the stock. Capital International Investors raised its stake 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% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock worth $1,210,348,000 after buying an additional 534,740 shares during the period. Amundi raised its holdings in shares of Truist Financial by 4.6% during 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 during the period. Northern Trust Corp lifted its holdings in shares of Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock valued at $540,723,000 after acquiring an additional 3,188,999 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

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.

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