Truist Financial (NYSE:TFC) Upgraded to “Strong-Buy” at Baird R W

Truist Financial (NYSE:TFC) was upgraded by equities researchers at Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on TFC. Compass Point upped their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Trading Down 1.5 %

TFC opened at $43.11 on Wednesday. The business’s 50-day simple moving average is $45.79 and its 200-day simple moving average is $44.67. The company has a market cap of $56.27 billion, a P/E ratio of 12.94, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial has a one year low of $34.51 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. As a group, equities research analysts expect 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 business. Bangor Savings Bank grew its holdings in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial during the third quarter valued at $26,000. Hopwood Financial Services Inc. purchased a new stake in Truist Financial during the 4th quarter worth about $26,000. Navigoe LLC acquired a new position in Truist Financial in the 4th quarter valued at about $26,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the 3rd quarter valued at about $32,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.