Truist Financial (NYSE:TFC) Given New $42.00 Price Target at JPMorgan Chase & Co.

Truist Financial (NYSE:TFC) had its price objective reduced by analysts at JPMorgan Chase & Co. from $48.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 0.96% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Finally, Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.42.

Truist Financial Trading Up 1.4 %

Shares of NYSE:TFC opened at $41.60 on Thursday. Truist Financial has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $54.30 billion, a PE ratio of 12.49, a P/E/G ratio of 1.63 and a beta of 1.08. The company’s 50-day moving average price is $44.41 and its 200 day moving average price is $44.41.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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 business had revenue of $5.11 billion for 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%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Sell-side analysts anticipate that Truist Financial will post 4 earnings per share for the current year.

Hedge Funds Weigh In On Truist Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bangor Savings Bank lifted its stake in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Hopwood Financial Services Inc. bought a new stake in Truist Financial in the fourth quarter valued at about $26,000. Navigoe LLC acquired a new position in Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC bought a new position in Truist Financial during the fourth quarter worth about $45,000. Finally, City State Bank grew its position in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after buying an additional 716 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.