In a report issued on April 7, Vivek Juneja from J.P. Morgan maintained a Hold rating on Truist Financial (TFC – Research Report), with a price target of $60.00. The company’s shares closed last Friday at $53.87, close to its 52-week low of $51.87.
According to TipRanks.com, Juneja is a 5-star analyst with an average return of 17.0% and a 59.7% success rate. Juneja covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, Citizens Financial, and Regions Financial.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Truist Financial with a $68.21 average price target, representing a 26.7% upside. In a report released yesterday, Bank of America Securities also downgraded the stock to Hold.
The company has a one-year high of $68.95 and a one-year low of $51.87. Currently, Truist Financial has an average volume of 6.59M.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is neutral on the stock.
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Truist Financial Corporation was formed in December 2019 following the merger of BB&T and SunTrust banks. It is the sixth largest commercial bank in the United States. The firm has three operating business segments: Consumer Banking and Wealth (CB&W), Corporate and Commercial Banking (C&CB) and Insurance Holdings (IH). The CB&W unit offers retail community banking, wealth, mortgage banking and dealer retail services. Under the C&CB division, it provides services such as corporate, investment and commercial community banking. The IH segment offers property and casualty insurance, life insurance surety coverage, employee benefits, title insurance, commercial and retail insurance premium finance.
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