Truist Financial (NYSE:TFC) Raised to Outperform at Robert W. Baird

Truist Financial (NYSE:TFC) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has a $52.00 price target on the insurance provider’s stock, up from their prior price target of $48.00. Robert W. Baird’s target price indicates a potential upside of 18.87% from the company’s current price.

TFC has been the topic of several other research reports. 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. Keefe, Bruyette & Woods raised 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. Piper Sandler raised their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Stock Down 3.7 %

Truist Financial stock opened at $43.75 on Wednesday. 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 capitalization of $57.10 billion, a PE ratio of 13.14, a PEG ratio of 1.63 and a beta of 1.08. The firm’s fifty day moving average is $45.81 and its 200 day moving average is $44.69. Truist Financial has a 12-month low of $34.51 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Truist Financial will post 4 EPS for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of TFC. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Truist Financial in the fourth quarter valued at $36,749,000. LifeWealth Investments LLC purchased a new stake in Truist Financial during the 4th quarter worth about $318,000. Heck Capital Advisors LLC bought a new position in Truist Financial in the 4th quarter worth about $314,000. Integrated Advisors Network LLC grew its holdings in Truist Financial by 4.8% during the 4th quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider’s stock valued at $274,000 after buying an additional 291 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Truist Financial during the fourth quarter valued at about $22,558,000. Institutional investors own 71.28% of the company’s stock.

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.