Truist Financial Corporation [NYSE: TFC] loss -1.01% or -0.47 points to close at $46.02 with a heavy trading volume of 5907210 shares. The company report on September 6, 2022 that Texas Capital Bancshares, Inc. Announces Continued Execution of Its Strategic Transformation Through the Sale of Its Insurance Premium Finance Business.
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Expected to be financially accretive and to offer significant capital generation, enhanced liquidity profile, greater funding flexibility.
Enhances financial resiliency to support the growth of our core Texas-based commercial client strategy.
It opened the trading session at $46.75, the shares rose to $46.75 and dropped to $45.48, the range by which the price of stock traded the whole day. The daily chart for TFC points out that the company has recorded -18.16% loss over the past six months. However, it is still -3.0% lower than its most recent low trading price.
If we look at the average trading volume of 5.45M shares, TFC reached to a volume of 5907210 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $56.44 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 2.50. 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.
Compass Point have made an estimate for Truist Financial Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 15, 2022. The new note on the price target was released on April 11, 2022, representing the official price target for Truist Financial Corporation stock. Previously, the target price had yet another raise to $58, while BofA Securities analysts kept a Neutral rating on TFC stock. On January 19, 2022, analysts increased their price target for TFC shares from 63 to 77.
The Average True Range (ATR) for Truist Financial Corporation is set at 1.06, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 4.44. The Price to Book ratio for the last quarter was 1.09, with the Price to Cash per share for the same quarter was set at 24.21.
Trading performance analysis for TFC stock
Truist Financial Corporation [TFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.01. With this latest performance, TFC shares dropped by -8.14% in over the last four-week period, additionally sinking by -18.16% over the last 6 months – not to mention a drop of -18.48% 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 31.31, with the RSI for the last a single of trading hit 21.94, and the three-weeks RSI is set at 37.22 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 48.78, while it was recorded at 46.72 for the last single week of trading, and 54.57 for the last 200 days.
Truist Financial Corporation [TFC]: A deeper dive into fundamental analysis
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.
Truist Financial Corporation [TFC]: An earnings per share (EPS) analysis
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 2.75%.
An analysis of insider ownership at Truist Financial Corporation [TFC]
There are presently around $45,373 million, or 75.70% of TFC stock, in the hands of institutional investors. The top three institutional holders of TFC stocks are: VANGUARD GROUP INC with ownership of 119,837,620, which is approximately 1.639% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 96,605,399 shares of the stock with an approximate value of $4.45 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.84 billion in TFC stock with ownership of nearly 10.262% of the company’s market capitalization.
Positions in Truist Financial Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 730 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 70,197,584 shares. Additionally, 631 investors decreased positions by around 65,874,300 shares, while 218 investors held positions by with 849,873,878 shares. The mentioned changes placed institutional holdings at 985,945,762 shares, according to the latest SEC report filing. TFC stock had 88 new institutional investments in for a total of 7,450,919 shares, while 124 institutional investors sold positions of 6,294,003 shares during the same period.