Citigroup Cuts Truist Financial (NYSE:TFC) Price Target to $44.00

Truist Financial (NYSE:TFC) had its target price dropped by analysts at Citigroup from $51.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Citigroup’s price target indicates a potential upside of 4.12% from the stock’s current price.

Several other equities research analysts also recently commented on TFC. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Compass Point raised their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Trading Up 2.0 %

Shares of Truist Financial stock traded up $0.84 on Monday, hitting $42.26. 2,130,377 shares of the company’s stock traded hands, compared to its average volume of 8,028,563. The company has a market capitalization of $55.17 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a fifty day moving average of $45.12 and a two-hundred day moving average of $44.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial has a one year low of $35.09 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. As a group, sell-side analysts expect that Truist Financial will post 4 earnings per share for the current year.

Hedge Funds Weigh In On Truist Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. PBMares Wealth Management LLC lifted its position in shares of Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after buying an additional 224 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 225 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after purchasing an additional 227 shares during the last quarter. FWG Holdings LLC increased its stake in shares of Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 234 shares in the last quarter. Finally, Ignite Planners LLC raised its position 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 valued at $772,000 after purchasing an additional 246 shares during the period. 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.