Truist Financial (NYSE:TFC) Stock Rating Reaffirmed by Morgan Stanley

Truist Financial (NYSE:TFC)‘s stock had its “equal weight” rating reiterated by stock analysts at Morgan Stanley in a note issued to investors on Monday, Benzinga reports. They presently have a $43.00 price target on the insurance provider’s stock. Morgan Stanley’s target price points to a potential upside of 10.68% from the company’s current price.

TFC has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Royal Bank of Canada lifted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, January 4th. Finally, Barclays lifted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.59.

Truist Financial Stock Up 2.1 %

Shares of NYSE TFC opened at $38.85 on Monday. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29. The firm’s 50-day simple moving average is $36.76 and its 200 day simple moving average is $34.70. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market cap of $51.85 billion, a price-to-earnings ratio of -35.97, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 earnings per share. On average, research analysts expect that Truist Financial will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Truist Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFC. Godsey & Gibb Inc. raised its stake in shares of Truist Financial by 5.5% during the 1st quarter. Godsey & Gibb Inc. now owns 447,087 shares of the insurance provider’s stock worth $17,427,000 after purchasing an additional 23,158 shares in the last quarter. Iowa State Bank raised its position in Truist Financial by 59.2% during the first quarter. Iowa State Bank now owns 91,739 shares of the insurance provider’s stock worth $3,576,000 after acquiring an additional 34,129 shares in the last quarter. Eads & Heald Wealth Management acquired a new stake in Truist Financial in the first quarter valued at $233,000. Global Retirement Partners LLC grew its position in shares of Truist Financial by 9.8% in the 1st quarter. Global Retirement Partners LLC now owns 40,380 shares of the insurance provider’s stock valued at $1,574,000 after acquiring an additional 3,603 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Truist Financial by 23.7% during the 1st quarter. Venturi Wealth Management LLC now owns 9,142 shares of the insurance provider’s stock worth $356,000 after purchasing an additional 1,750 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

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.