Stephens and
Piper Sandler increased their price targets on Truist Financial Corporation (NYSE:TFC), with the highest reaching $47.00. However, the bank's stock performance was inconsistent, underperforming against competitors on several occasions, but also climbing to a new 12-month high and outperforming on strong trading days. Notably,
Equity Investment Corp and
Vanguard Personalized Indexing Management LLC increased their stakes in TFC. Nevertheless,
International Assets Investment Management LLC reduced their shares. Ahead of its quarterly earnings, debates surround whether to maintain conviction in TFC or add it to one's portfolio. Meanwhile, the company completed the sale of
Truist Insurance Holdings and executed its balance sheet repositioning. Looking forward, analysts have cut their earnings forecast for the banking major. Also, the bank’s long-term credit ratings were cut to Baa1 by
Moody's following the insurance sale. Finally, TFC cut its 2024 revenue guidance post the insurance divestiture but beat Q1 estimates, propelled by investment banking performance.
Truist Financial Corporation TFC News Analytics from Tue, 03 Oct 2023 07:00:00 GMT to Sun, 19 May 2024 10:39:34 GMT -
Rating -2
- Innovation 3
- Information 4
- Rumor -5
