Citigroup lifts Truist Financial Corporation [TFC] price estimate. Who else is bullish?


Truist Financial Corporation [NYSE: TFC] slipped around -0.19 points on Monday, while shares priced at $46.12 at the close of the session, down -0.41%. The company report on May 9, 2022 that Truist Announces Redemption of Senior Notes due June 2022.

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Truist Financial Corporation (NYSE: TFC) today announced it will redeem all $1,350,000,000 principal amount outstanding of its 3.050% senior notes due June 20, 2022 (CUSIP 05531FBG7) on the redemption date of May 20, 2022.

The redemption price for the senior notes will be equal to 100% of their principal amount plus accrued and unpaid interest to, but excluding, the redemption date. Interest on the senior notes will cease to accrue on and after the redemption date.

Truist Financial Corporation stock is now -21.23% down from its year-to-date (YTD) trading value. TFC Stock saw the intraday high of $46.63 and lowest of $45.52 per share. The company’s 52-week high price is 68.95, which means current price is +1.34% above from all time high which was touched on 01/18/22.

Compared to the average trading volume of 7.65M shares, TFC reached a trading volume of 7731379 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $63.56 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 2.40. 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.

Citigroup have made an estimate for Truist Financial Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 11, 2022. The new note on the price target was released on April 08, 2022, representing the official price target for Truist Financial Corporation stock. Previously, the target price had yet another raise from $63 to $77, while UBS kept a Buy rating on TFC stock. On January 19, 2022, analysts increased their price target for TFC shares from 69 to 72.

The Average True Range (ATR) for Truist Financial Corporation is set at 1.50, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 4.52. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 29.55.

How has TFC stock performed recently?

Truist Financial Corporation [TFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.04. With this latest performance, TFC shares dropped by -11.55% in over the last four-week period, additionally sinking by -26.44% over the last 6 months – not to mention a drop of -25.64% 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 24.79, with the RSI for the last a single of trading hit 20.82, and the three-weeks RSI is set at 28.46 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 53.79, while it was recorded at 46.64 for the last single week of trading, and 58.73 for the last 200 days.

Truist Financial Corporation [TFC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Truist Financial Corporation [TFC] shares currently have an operating margin of +37.99. Truist Financial Corporation’s Net Margin is presently recorded at +27.77.

Return on Equity for this stock inclined to 9.19, with Return on Assets sitting at 1.22.

Earnings analysis for Truist Financial Corporation [TFC]

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 2.71%.

Insider trade positions for Truist Financial Corporation [TFC]

There are presently around $45,651 million, or 74.70% of TFC stock, in the hands of institutional investors. The top three institutional holders of TFC stocks are: VANGUARD GROUP INC with ownership of 117,904,719, which is approximately 1.211% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 96,437,111 shares of the stock with an approximate value of $4.47 billion in TFC stocks shares; and STATE STREET CORP, currently with $2.93 billion in TFC stock with ownership of nearly -0.753% of the company’s market capitalization.

780 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 47,973,663 shares. Additionally, 575 investors decreased positions by around 37,136,870 shares, while 241 investors held positions by with 900,667,636 shares. The mentioned changes placed institutional holdings at 985,778,169 shares, according to the latest SEC report filing. TFC stock had 122 new institutional investments in for a total of 9,951,248 shares, while 86 institutional investors sold positions of 2,125,529 shares during the same period.