Truist Financial Corporation [NYSE: TFC] stock went on an upward path that rose over 1.50% on Monday, amounting to a one-week price decrease of less than -5.78%. The company report on June 13, 2022 that Truist Wealth enters Chicago with experienced team of wealth management professionals.
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Truist Wealth today announced its entry into Chicago with a 10-person team of wealth management professionals. The third-largest U.S. market, Chicago presents a significant opportunity for Truist Wealth as it continues its expansion into major metropolitan markets across the U.S.
Over the last 12 months, TFC stock dropped by -17.73%. The one-year Truist Financial Corporation stock forecast points to a potential upside of 23.44. The average equity rating for TFC stock is currently 2.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $64.48 billion, with 1.33 billion shares outstanding and 1.33 billion shares in the current float. Compared to the average trading volume of 7.71M shares, TFC stock reached a trading volume of 15670063 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 $60.92 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 2.60. 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 1.52, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 4.73. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 28.56.
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 -5.78. With this latest performance, TFC shares gained by 0.37% in over the last four-week period, additionally sinking by -21.47% over the last 6 months – not to mention a drop of -17.73% 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 40.51, with the RSI for the last a single of trading hit 38.72, and the three-weeks RSI is set at 40.61 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 49.81, while it was recorded at 47.82 for the last single week of trading, and 57.93 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 +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.
TFC Stock EPS
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%.
Truist Financial Corporation [TFC] Insider Position Details
There are presently around $45,184 million, or 75.30% 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 $4.43 billion in TFC stocks shares; and STATE STREET CORP, currently with $2.9 billion in TFC stock with ownership of nearly -0.753% of the company’s market capitalization.
773 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 45,342,040 shares. Additionally, 587 investors decreased positions by around 37,047,810 shares, while 240 investors held positions by with 900,944,668 shares. The mentioned changes placed institutional holdings at 983,334,518 shares, according to the latest SEC report filing. TFC stock had 116 new institutional investments in for a total of 8,599,202 shares, while 90 institutional investors sold positions of 2,254,557 shares during the same period.