Truist Financial Corporation [NYSE: TFC] stock went on a downward path that fall over -2.24% on Monday, amounting to a one-week price decrease of less than -5.61%. The company report on June 14, 2021 that Michael Carter Joins Truist Securities to Lead Investment Banking.
Truist Securities announced that Michael Carter has joined the firm to lead the investment and corporate banking teams and will be located in Atlanta. Carter joins Truist from RBC Capital Markets where he was most recently global head, Technology Investment Banking.
“Michael is highly respected in the finance community and a high-caliber professional well suited to leading our continuously expanding corporate and investment banking team,” said Tom Hackett, president and COO of Truist Securities. “Michael has vast experience in managerial roles and has been successful in serving clients and growing business over his extraordinary career.”.
Over the last 12 months, TFC stock rose by 43.63%. The one-year Truist Financial Corporation stock forecast points to a potential upside of 13.07. The average equity rating for TFC stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $76.03 billion, with 1.35 billion shares outstanding and 1.34 billion shares in the current float. Compared to the average trading volume of 5.75M shares, TFC stock reached a trading volume of 7411199 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Truist Financial Corporation [TFC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TFC shares is $65.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TFC stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for Truist Financial Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on May 10, 2021. The new note on the price target was released on January 07, 2021, representing the official price target for Truist Financial Corporation stock. Previously, the target price had yet another raise from $48 to $55, while Jefferies kept a Hold rating on TFC stock. On November 19, 2020, analysts increased their price target for TFC shares from 49 to 50.
The Average True Range (ATR) for Truist Financial Corporation is set at 1.32, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 5.20. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 31.04.
TFC Stock Performance Analysis:
Truist Financial Corporation [TFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.61. With this latest performance, TFC shares dropped by -6.41% in over the last four-week period, additionally plugging by 18.23% over the last 6 months – not to mention a rise of 43.63% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TFC stock in for the last two-week period is set at 32.45, with the RSI for the last a single of trading hit 22.88, and the three-weeks RSI is set at 38.94 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 59.58, while it was recorded at 58.16 for the last single week of trading, and 50.97 for the last 200 days.
Insight into Truist Financial Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Truist Financial Corporation [TFC] shares currently have an operating margin of +27.20. Truist Financial Corporation’s Net Margin is presently recorded at +18.56.
Return on Total Capital for TFC is now 5.32, given the latest momentum, and Return on Invested Capital for the company is 4.28. Return on Equity for this stock inclined to 6.53, with Return on Assets sitting at 0.91. When it comes to the capital structure of this company, Truist Financial Corporation [TFC] has a Total Debt to Total Equity ratio set at 67.20. Additionally, TFC Total Debt to Total Capital is recorded at 40.19, with Total Debt to Total Assets ending up at 9.28. Long-Term Debt to Equity for the company is recorded at 56.98, with the Long-Term Debt to Total Capital now at 30.20.
TFC Stock EPS
With the latest financial reports released by the company, Truist Financial Corporation posted 0.82/share EPS, while the average EPS was predicted by analysts to be reported at 0.72/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TFC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Truist Financial Corporation go to 8.90%.
Truist Financial Corporation [TFC] Insider Position Details
There are presently around $55,723 million, or 74.40% of TFC stock, in the hands of institutional investors. The top three institutional holders of TFC stocks are: VANGUARD GROUP INC with ownership of 106,962,328, which is approximately 0.988% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 93,117,875 shares of the stock with an approximate value of $5.28 billion in TFC stocks shares; and STATE STREET CORP, currently with $3.51 billion in TFC stock with ownership of nearly 5.996% of the company’s market capitalization.
Positions in Truist Financial Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 703 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 62,874,761 shares. Additionally, 537 investors decreased positions by around 59,756,200 shares, while 191 investors held positions by with 860,313,281 shares. The mentioned changes placed institutional holdings at 982,944,242 shares, according to the latest SEC report filing. TFC stock had 151 new institutional investments in for a total of 6,800,794 shares, while 64 institutional investors sold positions of 1,530,793 shares during the same period.