Fintel reports that on September 21, 2023, Keefe, Bruyette & Woods upgraded their outlook for Truist Financial (NYSE:TFC) from Market Perform to Outperform.
Analyst Price Forecast Suggests 32.40% Upside
As of August 31, 2023, the average one-year price target for Truist Financial is 37.56. The forecasts range from a low of 31.31 to a high of $47.25. The average price target represents an increase of 32.40% from its latest reported closing price of 28.37.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Truist Financial is 25,440MM, an increase of 13.91%. The projected annual non-GAAP EPS is 5.26.
What is the Fund Sentiment?
There are 2121 funds or institutions reporting positions in Truist Financial. This is a decrease of 163 owner(s) or 7.14% in the last quarter. Average portfolio weight of all funds dedicated to TFC is 0.30%, a decrease of 26.02%. Total shares owned by institutions decreased in the last three months by 2.32% to 1,100,231K shares. The put/call ratio of TFC is 0.63, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 41,560K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 41,083K shares, representing an increase of 1.15%. The firm decreased its portfolio allocation in TFC by 16.93% over the last quarter.
Bank Of America holds 36,454K shares representing 2.74% ownership of the company. In it’s prior filing, the firm reported owning 32,713K shares, representing an increase of 10.26%. The firm increased its portfolio allocation in TFC by 296.85% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 31,712K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 30,960K shares, representing an increase of 2.37%. The firm decreased its portfolio allocation in TFC by 17.43% over the last quarter.
Dodge & Cox holds 30,392K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 20,411K shares, representing an increase of 32.84%. The firm increased its portfolio allocation in TFC by 29.78% over the last quarter.
Amundi holds 27,754K shares representing 2.08% ownership of the company. In it’s prior filing, the firm reported owning 25,926K shares, representing an increase of 6.59%. The firm decreased its portfolio allocation in TFC by 2.44% over the last quarter.
Truist Financial Background Information
(This description is provided by the company.)
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of $509 billion as of December 31, 2020. Truist Bank, Member FDIC.
This article originally appeared on Fintel
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