StockNews.com’s group of equity researchers began their coverage of Truist Financial (NYSE: TFC) in a research note on Thursday, the first trading day of the week.
The company advised potential shareholders to “keep” the insurance provider’s stock in their portfolios.
TFC stock was offered for sale to the public for the first time on Thursday for $32.10 per share.
The average price of the company’s stock over the past 50 days is $46.38, and the average price over the last 200 days is $45.20.
Both of these figures are calculated using the simple moving average method.
There is no distinction between the quick, current, or debt-to-equity ratios because all three measurements come out to the same value, which is 0.80.
The company has a market value of $42.63 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-to-growth ratio of 1.01, and a beta value of 1.10.
These metrics are in addition to the company’s beta value of 1.10.
In the past 52 weeks on the stock market, Truist Financial’s share price has ranged from $30.51 to $61.10, with a low of $30.51 and a high of $61.10.
Recently, TFC has been the subject of reports written by several other equity experts who are considered industry leaders. Stephens downgraded the stock of Truist Financial from an “overweight” rating to an “equal weight,” and the new price objective for the company’s shares is $53.00.
A report was made available to the general public on Tuesday, January 31.
The recommendation on Truist Financial was changed from “hold” to “buy” in a study carried out by Jefferies Financial Group and made available to the public on January 9. Citigroup reevaluated the shares of Truist Financial and recommended purchasing them in a research report released on Wednesday.
The firm also established a target price of $52.00 for the company.
Previously, Citigroup had rated the shares of Truist Financial as “neutral.” In a report released on Sunday, Keefe, Bruyette & Woods lowered their target price for Truist Financial from $47.00 to $45.00 and changed their rating for the company from “underperform” to “market perform.” According to the findings of the research carried out by Wells Fargo & Company on Wednesday, December 14, it was stated that the price objective for the shares of Truist Financial had been decreased to $57.00. Seven research analysts have issued a buy recommendation for the company, nine have issued a hold recommendation, and a single research analyst has issued a sell recommendation for the stock.
According to the data on Bloomberg.com, the stock is presently assigned a rating of “Hold” across the board, and analysts’ average price objective is $51.58 per share.
In other related news, Truist Financial director David M. Ratcliffe bought 13,125 shares of the company’s stock on March 10.
This was reported in the March 10 issue of the company’s newsletter.
The total cost of purchasing the stock was $499,800.00, which resulted in an average price of $38.08 per share when the transaction was completed.
After the completion of the deal, the director now owns a total of 39,025 shares of the company, which have an estimated value of $1,486,072 in the current market. On the Securities and Exchange Commission website, one can access the file in which it was announced that the acquisition had taken place.
This announcement was made after the acquisition had taken place. On Friday, January 27, a business insider named Hugh S. Cummins III sold 35,229 shares of company stock.
This is just one of the latest developments relating to this topic.
The total number of shares sold was 1,727,982.45 for $49.05.
Each share sold for an average of its respective price.
An insider of the company currently owns 307,069 shares of the company’s stock, which have a combined market value of $15,061,734. When you click this link, you will be taken to a document given to the SEC.
This document contains information about the transaction and the presentation given to the SEC.
The purchase of 13,125 shares of the company’s stock was made on March 10 by David M. Ratcliffe, a company director.
The cost of purchasing all of the shares of stock came to a total of $499,800.00, with an average price of $38.08 per share.
Because of the acquisition, the director now owns 39,025 shares.
The total value of these shares is $1,486,072, so the director’s stake in the company is now worth $1,486,072. You should be able to locate the disclosure concerning this transaction in the following location: Currently, insiders hold 0.31% of the company’s stock in their accounts.
Recently, several hedge funds adjusted the percentage of TFC stock held in their respective portfolios.
Moneta Group Investment Advisors LLC grew its ownership of Truist Financial stock by 12,034.8% during the fourth quarter of 2018.
This represents an increase from the previous quarter’s ownership level.
Moneta Group Investment Advisors LLC had acquired 20,490,356 shares of the insurance provider’s stock as of the close of business on the final day of the current quarter.
The value of these shares is $881,700,000. Norges Bank increased its ownership in Truist Financial during the fourth quarter, bringing its total investment to approximately $553,718,000 at the end of the fiscal year.
Amundi’s ownership of Truist Financial increased by 43.1% during the fourth quarter due to the company’s acquisition of additional shares.
Amundi now owns 18,282,723 shares of the insurance provider’s stock, which have an estimated value of $847,671,000 following the purchase of an additional 5,504,325 shares during the period in question.
The value of these shares is estimated to be $847,671,000.
Morgan Stanley’s ownership of Truist Financial increased by 32.6% during the fourth quarter due to the company’s purchase of additional shares.
After making three separate purchases totaling 3,813,439 shares, Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock, which have a value of $667,443,000.
The company acquired these shares after it issued a total of 3,813,439 shares during the period.
And finally, during the third quarter, Truist Financial witnessed a rise of 3.6% in the quantity of ownership it held in BlackRock INC At this time, BlackRock INC owns 100,049,345 shares of the company’s stock, which are worth a total of $4,356,148,000.
This is because, during the relevant period, an additional 3,443,946 shares were purchased, bringing the total number of shares owned by the investor to 3,443,946. 72.49% of the company’s shares are owned by institutional investors who have purchased large blocks of stock.
Trust Financial Corporation, a financial holding company, offers banking services to many customers, including private individuals, public organizations, and municipal governments.
It conducts its business in the following markets: The bank can be broken down into four distinct business groups: Treasury and Corporate, Insurance Holdings and Other, Corporate and Commercial Banking, and Consumer Banking and Wealth.