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

Truist Financial Corporation [NYSE: TFC] gained 0.59% or 0.25 points to close at $42.84 with a heavy trading volume of 3951064 shares. 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.

It opened the trading session at $42.65, the shares rose to $43.065 and dropped to $42.34, the range by which the price of stock traded the whole day. The daily chart for TFC points out that the company has recorded -11.43% loss over the past six months. However, it is still -7.07% lower than its most recent low trading price.

If we look at the average trading volume of 7.60M shares, TFC reached to a volume of 3951064 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 $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 1.09, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 3.83. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 24.03.

Trading performance analysis for TFC stock

Truist Financial Corporation [TFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.18. With this latest performance, TFC shares dropped by -8.70% in over the last four-week period, additionally sinking by -11.43% over the last 6 months – not to mention a drop of -26.72% 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 48.11, with the RSI for the last a single of trading hit 52.14, and the three-weeks RSI is set at 47.17 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 43.89, while it was recorded at 42.16 for the last single week of trading, and 47.98 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 2.04%.

An analysis of insider ownership at Truist Financial Corporation [TFC]

There are presently around $42,095 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 $4.29 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.58 billion in TFC stock with ownership of nearly -2.688% of the company’s market capitalization.

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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