why Truist Financial Corporation [TFC] is a Good Choice for Investors After New Price Target of $52.05

Truist Financial Corporation [NYSE: TFC] slipped around -1.6 points on Monday, while shares priced at $45.32 at the close of the session, down -3.41%. The company report on November 28, 2022 that Truist to present at the Goldman Sachs US Financial Services Conference.


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Truist Financial Corporation (NYSE: TFC) today announced that Chairman and Chief Executive Officer Bill Rogers will present at the Goldman Sachs 2022 US Financial Services Conference on Tuesday, Dec. 6, 2022 at 11:20 a.m. ET.

A live audio webcast and the presentation materials will be available on the day of the conference at ir.truist.com under Events & Presentations. A replay of the webcast will be available on the website for 30 days.

Truist Financial Corporation stock is now -22.60% down from its year-to-date (YTD) trading value. TFC Stock saw the intraday high of $46.65 and lowest of $45.23 per share. The company’s 52-week high price is 68.95, which means current price is +13.29% above from all time high which was touched on 01/18/22.

Compared to the average trading volume of 6.61M shares, TFC reached a trading volume of 5782874 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 $52.05 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 2.70. 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.

Evercore ISI have made an estimate for Truist Financial Corporation shares, keeping their opinion on the stock as In-line, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $52 to $55. The new note on the price target was released on September 28, 2022, representing the official price target for Truist Financial Corporation stock. Previously, the target price had yet another raise to $55, while Compass Point analysts kept a Neutral rating on TFC stock.

The Average True Range (ATR) for Truist Financial Corporation is set at 1.23, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 4.06. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 23.97.

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 -0.74. With this latest performance, TFC shares gained by 2.58% in over the last four-week period, additionally sinking by -7.75% over the last 6 months – not to mention a drop of -24.57% 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 50.42, with the RSI for the last a single of trading hit 48.47, and the three-weeks RSI is set at 50.37 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 44.51, while it was recorded at 46.24 for the last single week of trading, and 49.75 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 2.04%.

Insider trade positions for Truist Financial Corporation [TFC]

There are presently around $44,533 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 120,881,812, which is approximately 0.871% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 100,049,345 shares of the stock with an approximate value of $4.53 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.73 billion in TFC stock with ownership of nearly -2.688% of the company’s market capitalization.

Positions in Truist Financial Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 734 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 38,503,943 shares. Additionally, 598 investors decreased positions by around 40,131,471 shares, while 211 investors held positions by with 904,009,091 shares. The mentioned changes placed institutional holdings at 982,644,505 shares, according to the latest SEC report filing. TFC stock had 101 new institutional investments in for a total of 4,538,901 shares, while 98 institutional investors sold positions of 4,239,756 shares during the same period.

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