Truist Financial Corporation [NYSE: TFC] closed the trading session at $36.79. The company report on February 2, 2024 at 7:31 AM that Sterling Capital Management LLC to be acquired by Guardian Capital Group Limited.
Guardian Capital Group Limited (Guardian) (TSX:GCG) (TSX:GCG.A) announced today that it has reached an agreement under which Guardian’s wholly-owned subsidiary Guardian Capital LLC will acquire Sterling Capital Management LLC (Sterling) from Truist Financial Corporation (Truist) (NYSE: TFC).
Headquartered in Charlotte, North Carolina, Sterling traces its origins as an independent investment manager to 1970. Sterling’s rich pedigree has allowed it to expand a successful business that today has approximately $76B in assets under management and advisement. Sterling invests on behalf of a broad range of institutional and individual investors through separate accounts, model portfolios, and commingled vehicles, including mutual funds.
The stocks have a year to date performance of -0.35 percent and weekly performance of -2.77 percent. The stock has been moved at 13.97 percent over the last six months. The stock has performed 0.77 percent around the most recent 30 days and changed 29.13 percent over the most recent 3-months.
If compared to the average trading volume of 9.61M shares, TFC reached to a volume of 11364280 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 $40.85 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 2.36. 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.
BofA Securities have made an estimate for Truist Financial Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 04, 2024.
The Average True Range (ATR) for Truist Financial Corporation is set at 1.06, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 1.47. The Price to Book ratio for the last quarter was 0.93. Price to Free Cash Flow for TFC in the course of the last twelve months was 6.87.
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 -2.77. With this latest performance, TFC shares gained by 0.77% in over the last four-week period, additionally plugging by 13.97% over the last 6 months – not to mention a drop of -25.87% 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 50.31, with the RSI for the last a single of trading hit 45.87, and the three-weeks RSI is set at 53.40 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 35.74, while it was recorded at 37.32 for the last single week of trading, and 31.65 for the last 200 days.
Truist Financial Corporation [TFC]: An insightful look at the core fundamentals
Truist Financial Corporation’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.14.
Earnings per share (EPS) analysis for Truist Financial Corporation [TFC] stock
With the latest financial reports released by the company, Truist Financial Corporation posted 1.09/share EPS, while the average EPS was predicted by analysts to be reported at 1.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.40%. 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 16.00%.
Truist Financial Corporation [TFC]: Institutional Ownership
The top three institutional holders of TFC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TFC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TFC stock with ownership which is approximately 5.8325%.
