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

Truist Financial Corporation [NYSE: TFC] jumped around 0.02 points on Friday, while shares priced at $42.08 at the close of the session, up 0.05%. The company report on December 9, 2022 that Access to Capital for Entrepreneurs Receives $3.75 Million Grant From Truist Foundation To Support Expansion Into South Georgia.


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Truist Foundation today announced a $3.75 million commitment to launch the Diverse, Equitable and Inclusive Small Business Capital strategy at Access to Capital for Entrepreneurs Inc. (ACE), a nonprofit and community development financial institution, that provides capital, coaching and connections to help borrowers create and grow sustainable businesses that generate jobs. This grant serves as the largest philanthropic corporate gift in ACE’s history.

To meet increased demand and support the growing needs of Georgia’s small business owners in rural and underserved communities, ACE aims to expand its lending capabilities beyond its current 68-county footprint in Georgia, which includes metro Atlanta and North Georgia. Truist Foundation’s grant will help enable ACE to provide increased equitable loan capital for minority-owned small businesses over three years. ACE will also leverage the capital to continue spurring local job creation and retention while seeding start-up program operations and infrastructure for an expansion into South Georgia.

Truist Financial Corporation stock is now -28.13% down from its year-to-date (YTD) trading value. TFC Stock saw the intraday high of $42.385 and lowest of $41.84 per share. The company’s 52-week high price is 68.95, which means current price is +5.19% above from all time high which was touched on 01/18/22.

Compared to the average trading volume of 7.11M shares, TFC reached a trading volume of 10890940 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 1.28, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 3.77. The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 23.98.

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 -6.61. With this latest performance, TFC shares dropped by -1.43% in over the last four-week period, additionally sinking by -8.42% over the last 6 months – not to mention a drop of -29.42% 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 38.36, with the RSI for the last a single of trading hit 32.24, and the three-weeks RSI is set at 41.61 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 44.30, while it was recorded at 42.09 for the last single week of trading, and 48.91 for the last 200 days.

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 $41,348 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 $4.21 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.53 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 732 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 38,489,833 shares. Additionally, 601 investors decreased positions by around 40,158,236 shares, while 210 investors held positions by with 903,968,104 shares. The mentioned changes placed institutional holdings at 982,616,173 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 101 institutional investors sold positions of 4,268,961 shares during the same period.

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