Truist Financial Corporation [TFC] is 7.23% higher this YTD. Is it still time to buy?

Truist Financial Corporation [NYSE: TFC] closed the trading session at $46.14 on 03/06/23. The day’s price range saw the stock hit a low of $46.01, while the highest price level was $46.64. The company report on March 1, 2023 that Truist to present at the RBC Capital Markets Global Financial Institutions Conference.

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Truist Financial Corporation (NYSE: TFC) today announced that Chief Financial Officer Mike Maguire will present at the RBC Capital Markets Global Financial Institutions Conference on Wednesday, Mar. 8, 2023 at 4 p.m. ET.

A live audio webcast and the presentation materials will be available on the day of the conference at under Events & Presentations. A replay of the webcast will be available on the website for 30 days.

The stocks have a year to date performance of 7.23 percent and weekly performance of -2.12 percent. The stock has been moved at -1.56 percent over the last six months. The stock has performed -8.43 percent around the most recent 30 days and changed -0.17 percent over the most recent 3-months.

If compared to the average trading volume of 7.06M shares, TFC reached to a volume of 5702001 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 $52.45 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.

Stephens have made an estimate for Truist Financial Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 31, 2023. The new note on the price target was released on January 09, 2023, representing the official price target for Truist Financial Corporation stock. Previously, the target price had yet another drop from $61 to $48, while Deutsche Bank kept a Hold rating on TFC stock. On October 19, 2022, analysts decreased their price target for TFC shares from 54 to 47.

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 3.62. The Price to Book ratio for the last quarter was 1.14, with the Price to Cash per share for the same quarter was set at 23.11.

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 -2.12. With this latest performance, TFC shares dropped by -8.43% in over the last four-week period, additionally sinking by -1.56% over the last 6 months – not to mention a drop of -23.80% 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 41.44, with the RSI for the last a single of trading hit 37.15, and the three-weeks RSI is set at 45.15 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 46.91, while it was recorded at 46.31 for the last single week of trading, and 46.60 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 -0.29%.

Truist Financial Corporation [TFC]: Insider Ownership positions

There are presently around $45,662 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 122,319,147, which is approximately 1.189% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 92,390,637 shares of the stock with an approximate value of $4.26 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.82 billion in TFC stock with ownership of nearly 1.498% of the company’s market capitalization.

Positions in Truist Financial Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 753 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 62,702,819 shares. Additionally, 659 investors decreased positions by around 54,649,724 shares, while 185 investors held positions by with 872,288,261 shares. The mentioned changes placed institutional holdings at 989,640,804 shares, according to the latest SEC report filing. TFC stock had 169 new institutional investments in for a total of 10,047,000 shares, while 93 institutional investors sold positions of 1,608,943 shares during the same period.


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