Truist Financial (NYSE:TFC) Rating Increased to Buy at Compass Point

Truist Financial (NYSE:TFC) was upgraded by equities research analysts at Compass Point from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, Briefing.com reports. The brokerage currently has a $42.00 price objective on the insurance provider’s stock. Compass Point’s price objective indicates a potential upside of 8.47% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $41.00 to $43.00 in a research note on Tuesday, March 19th. Wells Fargo & Company upped their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Barclays upped their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Jefferies Financial Group increased their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.59.

Truist Financial Price Performance

Shares of TFC stock traded up $0.66 during midday trading on Tuesday, reaching $38.72. 1,668,062 shares of the company traded hands, compared to its average volume of 9,611,528. The firm’s 50 day simple moving average is $36.68 and its two-hundred day simple moving average is $34.62. Truist Financial has a 1-year low of $25.56 and a 1-year high of $39.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $51.68 billion, a PE ratio of -35.80, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the firm earned $1.09 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities research analysts expect that Truist Financial will post 3.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Truist Financial during the 3rd quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter valued at about $29,000. Operose Advisors LLC acquired a new stake in shares of Truist Financial during the 3rd quarter valued at about $31,000. Missouri Trust & Investment Co boosted its position in Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in Truist Financial in the first quarter valued at about $32,000. 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.