Truist Financial Corporation (TFC) has been witnessing a wave of analyst recommendations and stock adjustments, despite its stock underperforming in comparison to competitors on multiple occasions. While Citigroup maintains a buy recommendation for the firm, Barclays started new coverage on the bank, with Stephens even boosting its price target to $47.00. However, concerns persist with TFC's long-term credit ratings being cut to Baa1 by Moody's post its Truist Insurance Holdings sale. TFC's restructuring is seen as a move to aid amidst cost woes, but the firm’s stock has nonetheless seen dips, despite occasional outperforming of market gains. Such instability has contributed to selling actions from Quadrant Capital and Franklin Resources, highlighting potential challenges. Despite these mixed signals, TFC is still favored by institutional owners, who hold 72% of the company. Also, an analyst upgrade has enabled TFC to reach a new 12-month high. Going forward, TFC will be closely watched for its earned dividends, digital transaction performance, and Q4 earnings, especially with revenue guidance adjustments following the insurance sale.
Truist Financial Corporation TFC News Analytics from Tue, 10 Oct 2023 07:00:00 GMT to Thu, 23 May 2024 14:15:00 GMT -
Rating 3
- Innovation 2
- Information 6
- Rumor -3
