Robert W. Baird Reaffirms “Neutral” Rating for Truist Financial (NYSE:TFC)

Truist Financial (NYSE:TFC)‘s stock had its “neutral” rating reiterated by Robert W. Baird in a report issued on Thursday, Marketbeat reports. They currently have a $52.00 target price on the insurance provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 4.98% from the company’s previous close.

A number of other equities analysts have also recently issued reports on TFC. Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Piper Sandler set a $48.00 price objective on Truist Financial in a research note on Monday, October 20th. Evercore ISI raised their target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Finally, Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

Truist Financial Stock Performance

Truist Financial stock opened at $49.54 on Thursday. Truist Financial has a 52-week low of $33.56 and a 52-week high of $49.64. The firm has a market capitalization of $63.37 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.04 and a beta of 0.90. The stock has a fifty day moving average price of $44.95 and a two-hundred day moving average price of $44.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period in the prior year, the business earned $0.97 earnings per share. Truist Financial’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts anticipate that Truist Financial will post 4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the sale, the director owned 10,153 shares in the company, valued at $471,606.85. This represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Truist Financial by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock valued at $5,177,722,000 after purchasing an additional 1,529,478 shares during the period. Capital International Investors grew its holdings in Truist Financial by 0.3% in the third quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock worth $4,921,717,000 after purchasing an additional 346,423 shares during the period. Geode Capital Management LLC raised its stake in Truist Financial by 0.3% during the second quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock valued at $1,205,855,000 after buying an additional 74,728 shares during the last quarter. Amundi boosted its stake in Truist Financial by 4.6% in the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after purchasing an additional 1,091,311 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Truist Financial by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock valued at $755,185,000 after buying an additional 164,034 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

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.