Evercore ISI slashes price target on Truist Financial Corporation [TFC] – find out why.

Truist Financial Corporation [NYSE: TFC] stock went on a downward path that fall over -0.46% on Friday, amounting to a one-week price decrease of less than -1.85%. The company report on December 15, 2022 that Truist announces fourth-quarter 2022 earnings call details.


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Truist Financial Corporation (NYSE: TFC) will report fourth-quarter 2022 financial results before the market opens on Thursday, Jan. 19, 2023.  Chairman and Chief Executive Officer Bill Rogers and Chief Financial Officer Mike Maguire will host a conference call to review the company’s financial results at 8 a.m. ET.

Investors can access a live audio webcast of the earnings call and view the news release and presentation materials at ir.truist.com under “Events & Presentations.” The conference call can also be accessed by dialing 855-303-0072 and using passcode 100038. A replay of the call will be available on the website for 30 days.

Over the last 12 months, TFC stock dropped by -30.21%. The one-year Truist Financial Corporation stock forecast points to a potential upside of 20.21. The average equity rating for TFC stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $55.05 billion, with 1.33 billion shares outstanding and 1.32 billion shares in the current float. Compared to the average trading volume of 7.49M shares, TFC stock reached a trading volume of 24291741 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 $51.76 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 1.35, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 3.72. The Price to Book ratio for the last quarter was 1.01, with the Price to Cash per share for the same quarter was set at 23.86.

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 -1.85. With this latest performance, TFC shares dropped by -9.29% in over the last four-week period, additionally sinking by -10.78% over the last 6 months – not to mention a drop of -30.21% 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 37.35, with the RSI for the last a single of trading hit 32.32, and the three-weeks RSI is set at 40.49 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 44.02, while it was recorded at 42.33 for the last single week of trading, and 48.45 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 2.04%.

Truist Financial Corporation [TFC] Insider Position Details

There are presently around $40,581 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 $4.13 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.48 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 729 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 38,458,545 shares. Additionally, 603 investors decreased positions by around 40,170,313 shares, while 211 investors held positions by with 903,973,242 shares. The mentioned changes placed institutional holdings at 982,602,100 shares, according to the latest SEC report filing. TFC stock had 97 new institutional investments in for a total of 4,498,236 shares, while 103 institutional investors sold positions of 4,278,308 shares during the same period.

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