Truist Financial Corporation [TFC] stock Upgrade by Citigroup analyst, price target now $52

Truist Financial Corporation [NYSE: TFC] closed the trading session at $32.74 on 04/06/23. The day’s price range saw the stock hit a low of $32.04, while the highest price level was $33.06. The company report on April 6, 2023 that Inspiring Stories: Truist Foundation and Community First Fund Support Diverse Entrepreneurs by Aligning Capital With Social Justice in Pennsylvania.

Community First Fund was founded by Black and Latino community visionaries with a dream to provide much-needed capital to low-income entrepreneurs and community organizations serving the poor in South Central Pennsylvania. These leaders created community development loan institutions (CDFI) – some of the first to form across the country – to address the opportunity gap and make capital accessible to all residents. To date, Community First Fund has provided $487 million in loans and investments across central and eastern Pennsylvania, 71% of which has gone to businesses owned by people of color.

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Over the last decade, there has been a notable increase in Black, Hispanic, Latino, and Asian residents in Pennsylvania, presenting an opportunity to rebuild a racially equitable local economy. Learn how Truist Foundation’s $2.25 million grant to Community First Fund’s Economic Justice Fund, which provides capital to Black and Latino entrepreneurs across Eastern and Central Pennsylvania, is helping small business owners-like Mamie Sardnee, owner of Woodland Produce in Philadelphia-grow their businesses and achieve their dreams.

The stocks have a year to date performance of -23.91 percent and weekly performance of -3.28 percent. The stock has been moved at -28.61 percent over the last six months. The stock has performed -25.20 percent around the most recent 30 days and changed -26.33 percent over the most recent 3-months.

If compared to the average trading volume of 12.52M shares, TFC reached to a volume of 10842058 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 $47.35 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 2.50. 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.

Citigroup have made an estimate for Truist Financial Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 15, 2023. The new note on the price target was released on March 13, 2023, representing the official price target for Truist Financial Corporation stock. Previously, the target price had yet another drop from $47 to $45, while Keefe Bruyette kept a Mkt Perform rating on TFC stock.

The Average True Range (ATR) for Truist Financial Corporation is set at 1.78, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 2.56. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 23.24.

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 -3.28. With this latest performance, TFC shares dropped by -25.20% in over the last four-week period, additionally sinking by -28.61% over the last 6 months – not to mention a drop of -40.86% 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 35.52, with the RSI for the last a single of trading hit 39.07, and the three-weeks RSI is set at 34.65 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 41.80, while it was recorded at 32.79 for the last single week of trading, and 45.07 for the last 200 days.

Truist Financial Corporation [TFC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Truist Financial Corporation [TFC] shares currently have an operating margin of +32.01. Truist Financial Corporation’s Net Margin is presently recorded at +24.49.

Return on Total Capital for TFC is now 6.80, given the latest momentum, and Return on Invested Capital for the company is 5.92. Return on Equity for this stock inclined to 9.65, with Return on Assets sitting at 1.13. When it comes to the capital structure of this company, Truist Financial Corporation [TFC] has a Total Debt to Total Equity ratio set at 112.65. Additionally, TFC Total Debt to Total Capital is recorded at 52.97, with Total Debt to Total Assets ending up at 12.20. Long-Term Debt to Equity for the company is recorded at 82.53, with the Long-Term Debt to Total Capital now at 34.53.

Reflecting on the efficiency of the workforce at the company, Truist Financial Corporation [TFC] managed to generate an average of $118,453 per employee.

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 $32,173 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 $3.02 billion in TFC stocks shares; and JPMORGAN CHASE & CO, currently with $2.0 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 745 institutional holders increased their position in Truist Financial Corporation [NYSE:TFC] by around 62,065,348 shares. Additionally, 652 investors decreased positions by around 54,602,613 shares, while 179 investors held positions by with 866,013,265 shares. The mentioned changes placed institutional holdings at 982,681,226 shares, according to the latest SEC report filing. TFC stock had 164 new institutional investments in for a total of 9,719,151 shares, while 95 institutional investors sold positions of 1,601,701 shares during the same period.


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