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Wells Fargo analyst Mike Mayo has lowered the price target for Truist Financial (TFC) to $50 from $52 while maintaining an Overweight rating. The adjustment comes amid a Q1 earnings preview for large-cap banks, reflecting a cautious outlook due to policy uncertainties affecting investment banking and loans. Despite this, Wells Fargo remains optimistic about the sector's long-term prospects, citing significant deregulation.
Wells Fargo has lowered its price target for U.S. Bancorp (USB) to $56 from $62 while maintaining an Overweight rating, citing a cautious Q1 outlook due to policy uncertainties. The firm has reduced its earnings estimates by 4% for Q1 and 2% through 2027, attributing this to a "degree of paralysis" affecting investment banking and loans. Despite these challenges, Wells Fargo remains optimistic about the banking sector's long-term prospects, highlighting significant deregulation.
Wells Fargo has lowered its price target for M&T Bank to $185 from $205, maintaining an Underweight rating ahead of Q1 earnings. The firm is optimistic about the banking sector's long-term prospects due to significant deregulation but cautions that Q1 may face challenges due to policy uncertainties, leading to reduced estimates for the bank's performance.
Wells Fargo has lowered its price target for Morgan Stanley to $130 from $142 while maintaining an Equal Weight rating ahead of Q1 earnings. The firm remains optimistic about the banking sector over the next year, citing significant deregulation, but expresses caution due to policy uncertainties affecting investment banking and loan estimates.
Wells Fargo has lowered its price target for Northern Trust (NTRS) to $118 from $119 while maintaining an Equal Weight rating. The adjustment comes amid a cautious Q1 earnings outlook due to policy uncertainties, leading to a 4% reduction in Q1 estimates and a 2% cut through 2027. Despite this, the firm remains optimistic about the banking sector's long-term prospects, citing significant deregulation.
U.S. Bancorp's CEO Andrew Cecere sold 102,044 shares at $47.25, totaling $4.82 million, reducing his stake by 7.66%. Over the past ninety days, insiders sold 219,812 shares worth $10.39 million, while institutional investors hold 77.60% of the stock. Wells Fargo lowered its price target for U.S. Bancorp from $62 to $56, indicating a potential upside of 31.20%.
Principal Financial Group Inc. now holds 1,511,299 shares of Truist Financial, valued at $64.6 million, after acquiring more shares recently. Other institutional investors, including Country Club Bank and Glass Wealth Management, have also increased their stakes significantly. Truist Financial's stock has a consensus rating of "Moderate Buy," with a current price target of $50.00 from Wells Fargo, indicating potential upside.
State Street's executive vice president sold shares at an average price of $99.47, totaling $368,536.35, resulting in a 6.80% decrease in their holdings. Following the transaction, they own 50,816 shares valued at approximately $5.05 million. Institutional investors hold 87.44% of the stock, while analysts maintain a "Hold" rating with a consensus price target of $101.53.
Regions Financial Corporation, a financial holding company, has seen significant institutional trading activity, with 79.39% of its stock owned by institutional investors. Recent price targets from analysts have varied, with Wells Fargo reducing its target to $26, while others like Compass Point raised theirs to $31. The stock currently holds a "Moderate Buy" rating, with a recent trading price of $21.59, reflecting a 52-week range of $17.72 to $27.96.
The PNC Financial Services Group experienced a 0.24% decrease in insider ownership following CEO William S. Demchak's sale of 1,242 shares valued at approximately $251,020. Over the past ninety days, insiders have sold 12,420 shares worth $2,342,313. Institutional investors hold 83.53% of the stock, with recent activity including new stakes from several hedge funds. Analysts have mixed ratings on the stock, with a consensus target price of $201.35, while Wells Fargo recently lowered its price target to $230.00.
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