Financial

Truist Financial (NYSE:TFC) PT Raised to $53.00 at Credit Suisse Group

Truist Financial logoTruist Financial (NYSE:TFC) had its price target hoisted by investment analysts at Credit Suisse Group from $52.00 to $53.00 in a note issued to investors on Friday, Price Targets.com reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 3.56% from the company’s previous close.

Several other analysts have also weighed in on TFC. Keefe, Bruyette & Woods lowered Truist Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $49.00 to $50.00 in a research note on Thursday, November 19th. Jefferies Financial Group lowered shares of Truist Financial from a “buy” rating to a “hold” rating and lifted their price target for the company from $48.00 to $55.00 in a report on Thursday, January 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Truist Financial from $46.00 to $56.00 in a research note on Wednesday, January 6th. JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $40.00 to $43.50 in a research report on Tuesday, October 6th. Finally, Barclays upped their price target on shares of Truist Financial from $47.00 to $59.00 in a report on Monday, January 4th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $48.84.

Shares of Truist Financial stock opened at $51.18 on Friday. The company has a 50 day moving average of $48.66 and a 200-day moving average of $42.63. The company has a market cap of $69.00 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. Truist Financial has a 1-year low of $24.01 and a 1-year high of $56.39.

Truist Financial (NYSE:TFC) last released its earnings results on Wednesday, January 20th. The insurance provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.19. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Research analysts forecast that Truist Financial will post 3.54 earnings per share for the current year.

In other Truist Financial news, VP Brantley J. Standridge sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $45.10, for a total value of $67,650.00. Following the transaction, the vice president now directly owns 12,510 shares of the company’s stock, valued at $564,201. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kimberly Moore-Wright sold 1,398 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $44.09, for a total value of $61,637.82. The disclosure for this sale can be found here. Insiders have sold 7,387 shares of company stock valued at $342,162 in the last three months. 0.35% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in TFC. Thomasville National Bank boosted its stake in Truist Financial by 1.0% during the fourth quarter. Thomasville National Bank now owns 423,282 shares of the insurance provider’s stock worth $20,288,000 after acquiring an additional 3,997 shares in the last quarter. Radnor Capital Management LLC boosted its position in shares of Truist Financial by 1.9% during the 4th quarter. Radnor Capital Management LLC now owns 10,219 shares of the insurance provider’s stock worth $490,000 after purchasing an additional 194 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Truist Financial in the 3rd quarter valued at about $7,800,000. Ossiam grew its stake in shares of Truist Financial by 18.8% in the 3rd quarter. Ossiam now owns 64,465 shares of the insurance provider’s stock valued at $2,453,000 after buying an additional 10,190 shares during the period. Finally, Clearview Wealth Advisors LLC bought a new stake in Truist Financial in the 4th quarter valued at about $38,000. Institutional investors own 72.11% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals 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.

Read More: Are we seeing the beginning of a new bubble?

Analyst Recommendations for Truist Financial (NYSE:TFC)

Receive News & Ratings for Truist Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Truist Financial and related companies with MarketBeat.com’s FREE daily email newsletter.

In other Truist Financial news, VP Brantley J. Standridge sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $45.10, for a total value of $67,650.00. Following the transaction, the vice president now directly owns 12,510 shares of the company’s stock, valued at $564,201. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kimberly Moore-Wright sold 1,398 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $44.09, for a total value of $61,637.82. The disclosure for this sale can be found here. Insiders have sold 7,387 shares of company stock valued at $342,162 in the last three months. 0.35% of the stock is owned by insiders.

Source: https://rivertonroll.com/news/2021/01/24/truist-financial-nysetfc-pt-raised-to-53-00-at-credit-suisse-group.html

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button