Truist Financial (NYSE:TFC) Downgraded to Sell at StockNews.com

Truist Financial (NYSE:TFC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other analysts have also recently issued research reports about the stock. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective on the stock in a report on Thursday, December 14th. UBS Group raised their price objective on shares of Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Raymond James raised their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $43.00 in a research report on Tuesday, March 19th. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $40.30.

Truist Financial Stock Up 1.0 %

Shares of NYSE:TFC opened at $38.98 on Thursday. The firm’s 50 day moving average price is $36.47 and its 200 day moving average price is $33.46. The stock has a market cap of $52.02 billion, a price-to-earnings ratio of -36.09, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Truist Financial has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the company earned $1.30 earnings per share. As a group, equities research analysts predict that Truist Financial will post 3.39 earnings per share for the current fiscal year.

Insider Activity at Truist Financial

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TFC. Fairfield Bush & CO. acquired a new position in shares of Truist Financial during the 1st quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in shares of Truist Financial during the 3rd quarter worth about $26,000. West Tower Group LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth about $29,000. Operose Advisors LLC purchased a new stake in shares of Truist Financial during the 3rd quarter worth about $31,000. Finally, Missouri Trust & Investment Co grew its holdings in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Institutional investors and hedge funds 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.