Truist Financial Corporation (NYSE:TFC) price on Thursday, November 14, fall -0.56% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $46.25.
A look at the stock’s price movement, the close in the last trading session was $46.51, moving within a range at $45.98 and $46.6866. The beta value (5-Year monthly) was 1.035. Turning to its 52-week performance, $47.57 and $30.31 were the 52-week high and 52-week low respectively. Overall, TFC moved 3.86% over the past month.
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Truist Financial Corporation’s market cap currently stands at around $61.40 billion, with investors looking forward to this quarter’s earnings report slated for in December. The company has a Forward Dividend ratio of 2.08, with its dividend yield at 4.50%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 5.05B for the company’s revenue for the quarter, with a low and high estimate of 5.02B and 5.08B respectively. The average forecast suggests down to a -12.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 20.33B, representing a -13.90% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that TFC is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 8 recommend TFC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
TFC’s current price about 4.73% and 7.33% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 61.02, while 7-day volatility ratio is 1.82% and 2.15% in the 30-day chart. Further, Truist Financial Corporation (TFC) has a beta value of 1.04, and an average true range (ATR) of 1.10. Analysts have given the company’s stock an average 52-week price target of $50, forecast between a low of $43 and high of $76. Looking at the price targets, the low is 7.03% off current price level while to achieve the yearly target high, price needs to move -64.32%. Nonetheless, investors will most likely welcome a -8.11% jump to $50 which is the analysts’ median price.
If we refocus on Truist Financial Corporation (NYSE:TFC), historical trading data shows that trading volumes averaged 10.37 over the past 10 days and 8.08 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.33 billion shares.
The 0.26% of Truist Financial Corporation’s shares are in the hands of company insiders while institutional holders own 73.55% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 13.35 million on 2024-10-31, giving us a short ratio of 1.72. The data shows that as of 2024-10-31 short interest in Truist Financial Corporation (TFC) stood at 101.0 of shares outstanding, with shares short rising to 13.3 million registered in 2024-09-30. Current price change has pushed the stock 25.27% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TFC stock continues to rise going into the next quarter.
