Truist Financial Corporation [NYSE: TFC] loss -1.50% or -0.54 points to close at $35.56 with a heavy trading volume of 12206227 shares. The company report on February 20, 2024 at 6:00 AM that Truist announces agreement to sell remaining stake in Truist Insurance Holdings to investor group led by Stone Point Capital and Clayton, Dubilier & Rice, valuing Truist Insurance Holdings at $15.5 billion.
Sale will strengthen Truist’s balance sheet and enhances strategic flexibility to invest in core banking franchise.
Positions Truist Insurance Holdings for continued growth in rapidly evolving insurance brokerage market.
The daily chart for TFC points out that the company has recorded 23.56% gains over the past six months.
If we look at the average trading volume of 9.71M shares, TFC reached to a volume of 12206227 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 $40.52 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 new note on the price target was released on December 14, 2023, representing the official price target for Truist Financial Corporation stock. Previously, the target price had yet another drop from $37 to $36, while Keefe Bruyette kept a Outperform rating on TFC stock. On September 15, 2023, analysts decreased their price target for TFC shares from 36 to 32.
The Average True Range (ATR) for Truist Financial Corporation is set at 1.00, with the Price to Sales ratio for TFC stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 0.90. Price to Free Cash Flow for TFC in the course of the last twelve months was 6.64.
Trading performance analysis for TFC stock
Truist Financial Corporation [TFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.25. With this latest performance, TFC shares dropped by -5.10% in over the last four-week period, additionally plugging by 23.56% over the last 6 months – not to mention a drop of -25.85% 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 44.60, with the RSI for the last a single of trading hit 42.27, and the three-weeks RSI is set at 47.49 for Truist Financial Corporation [TFC]. The present Moving Average for the last 50 days of trading for this stock 36.53, while it was recorded at 35.67 for the last single week of trading, and 31.90 for the last 200 days.
Truist Financial Corporation [TFC]: A deeper dive into fundamental analysis
Truist Financial Corporation’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.14.
Truist Financial Corporation [TFC]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at Truist Financial Corporation [TFC]
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%.
