The trading price of Truist Financial Corporation (NYSE:TFC) closed lower on current market day and closing at $46.63, -0.34% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $46.04 and $46.82. In examining the 52-week price action we see that the stock hit a 52-week high of $47.57 and a 52-week low of $31.23. Over the past month, the stock has gained 9.90% in value.
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Truist Financial Corporation, whose market valuation is $61.90 billion at the time of this writing, is expected to release its quarterly earnings report in December. The dividend yield on the company stock is 4.46%, while its Forward Dividend ratio is 2.08. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest TFC has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned TFC a recommendation rating is 12. Out of them, 3 rate it a Hold, while 8 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Truist Financial Corporation (TFC) as Underweight, while 1 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that TFC’s price is currently 4.35% off the SMA20 and 7.54% off the SMA50. The RSI metric on the 14-day chart is currently showing 62.09, and weekly volatility stands at 1.74%. When measured over the past 30 days, the indicator reaches 2.00%. Truist Financial Corporation (NYSE:TFC)’s beta value is currently sitting at 1.04, while the Average True Range indicator is currently displaying 1.03. With analysts defining $43-$76 as the low and high price targets, we arrive at a consensus price target of $50 for the trailing 12-month period. The current price is about 7.78% off the estimated low and -62.99% off the forecast high, based on this estimate. Investors will be thrilled if TFC’s share price rises to $50, which is the median consensus price. At that level, TFC’s share price would be -7.23% below current price.
To see how Truist Financial Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: TFC stock’s performance was -0.34% in the latest trading, and 45.86% in the past year.
An evaluation of the daily trading volume of Truist Financial Corporation (NYSE:TFC) indicates that the 3-month average is 8.11 million. However, this figure has increased over the past 10 days to an average of 10.29.
Currently, records show that 1.33 billion of the company’s shares remain outstanding. The insiders hold 0.26% of outstanding shares, whereas institutions hold 73.35%. The stats also highlight that short interest as of 2024-10-31, stood at 13.35 million shares, resulting in a short ratio of 1.72 at that time. From this, we can conclude that short interest is 101.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 13.3 million. However, since the stock’s price has seen 26.30% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
