Market Analysts see Truist Financial Corporation [TFC] falling to $47. Time to buy?

Truist Financial Corporation [NYSE: TFC] plunged by -$1.16 during the normal trading session on Friday and reaching a high of $45.87 during the day while it closed the day at $45.06. The company report on December 2, 2022 that Truist and Truist Foundation Announce $4.5 Million in Grants To Strengthen Texas’ Racially Diverse Small Business Ecosystem.

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Truist Foundation announced a $3.5 million grant to PeopleFund, a Texas-based Community Development Financial Institution (CDFI) and nonprofit 501(c)(3) that strives to create economic opportunity and financial stability for underserved people by providing access to capital, education and other resources to build healthy small businesses.

Truist Foundation’s grant provides long-term sustainability for PeopleFund’s Black, Indigenous, Person of Color (BIPOC) Small Business Accelerator, a program that provides business owners the capital, resources and network to start and grow their businesses and attain economic mobility. The accelerator was piloted in 2021 with a $100,000 grant from Truist Foundation and a $3 million low-interest loan from Truist Community Capital. These seed investments acted as catalysts for additional support.

Truist Financial Corporation stock has also loss -3.96% of its value over the past 7 days. However, TFC stock has declined by -3.08% in the 3 months of the year. Over the past six months meanwhile, it has lost -8.21% and lost -23.04% year-on date.

The market cap for TFC stock reached $61.32 billion, with 1.33 billion shares outstanding and 1.32 billion shares in the current float. Compared to the average trading volume of 6.76M shares, TFC reached a trading volume of 9504892 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 1.28, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 4.14. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 23.36.

TFC stock trade performance evaluation

Truist Financial Corporation [TFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.96. With this latest performance, TFC shares gained by 2.60% in over the last four-week period, additionally sinking by -8.21% over the last 6 months – not to mention a drop of -25.37% 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 48.33, with the RSI for the last a single of trading hit 45.21, and the three-weeks RSI is set at 49.10 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 44.47, while it was recorded at 45.86 for the last single week of trading, and 49.39 for the last 200 days.

Earnings per share (EPS) analysis for Truist Financial Corporation [TFC] stock

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%.

Truist Financial Corporation [TFC]: Insider Ownership positions

There are presently around $44,278 million, or 75.20% 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 $4.51 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.71 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 733 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 38,493,845 shares. Additionally, 600 investors decreased positions by around 40,134,501 shares, while 210 investors held positions by with 904,010,719 shares. The mentioned changes placed institutional holdings at 982,639,065 shares, according to the latest SEC report filing. TFC stock had 99 new institutional investments in for a total of 4,528,468 shares, while 99 institutional investors sold positions of 4,245,061 shares during the same period.


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