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

Truist Financial Corporation [NYSE: TFC] jumped around 0.6 points on Tuesday, while shares priced at $43.63 at the close of the session, up 1.39%. 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.

Truist Financial Corporation stock is now 1.39% up from its year-to-date (YTD) trading value. TFC Stock saw the intraday high of $43.98 and lowest of $43.01 per share. The company’s 52-week high price is 68.95, which means current price is +1.44% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 7.50M shares, TFC reached a trading volume of 7232686 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 $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 1.02, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 3.92. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 23.87.

How has TFC stock performed recently?

Truist Financial Corporation [TFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.44. With this latest performance, TFC shares dropped by -5.60% in over the last four-week period, additionally sinking by -10.30% over the last 6 months – not to mention a drop of -25.48% 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 53.52, with the RSI for the last a single of trading hit 60.27, and the three-weeks RSI is set at 50.72 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 43.92, while it was recorded at 43.05 for the last single week of trading, and 47.67 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 $42,315 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 $4.37 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.62 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 January and at the time of the January reporting period, where 720 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 38,436,323 shares. Additionally, 599 investors decreased positions by around 39,777,223 shares, while 209 investors held positions by with 891,643,074 shares. The mentioned changes placed institutional holdings at 969,856,620 shares, according to the latest SEC report filing. TFC stock had 95 new institutional investments in for a total of 4,491,358 shares, while 103 institutional investors sold positions of 4,278,308 shares during the same period.

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