Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Truist Financial (NYSE:TFC) Stock

Truist Financial (NYSE:TFC) had its price objective lifted by Keefe, Bruyette & Woods from $55.00 to $57.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

TFC has been the subject of a number of other reports. UBS Group upped their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Piper Sandler raised their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Stephens reissued an “overweight” rating and set a $54.00 target price on shares of Truist Financial in a research report on Thursday, January 2nd. Finally, Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Performance

NYSE TFC opened at $46.72 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $62.03 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. The business’s 50-day moving average price is $45.46 and its 200 day moving average price is $43.75. Truist Financial has a twelve month low of $34.23 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5,047,370 billion. During the same period last year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts predict that Truist Financial will post 3.95 earnings per share for the current year.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Institutional Trading of Truist Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tradewinds LLC. grew its holdings in shares of Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after buying an additional 222 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after purchasing an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in Truist Financial by 3.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after purchasing an additional 227 shares in the last quarter. Ignite Planners LLC raised its stake in shares of Truist Financial by 1.4% in the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after purchasing an additional 246 shares during the last quarter. Finally, Burkett Financial Services LLC lifted its holdings in shares of Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 253 shares in the last quarter. Institutional investors 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.