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What Could Change After Truist Financial Corporation (NYSE: TFC) Gains 7.63% From The High-Point?

Truist Financial Corporation (NYSE:TFC)’s traded shares stood at 6.07 million during the latest session, with the company’s beta value hitting 1.11. At the last check today, the stock’s price was $31.07, to imply a decrease of -5.67% or -$1.87 in intraday trading. The TFC share’s 52-week high remains $61.10, putting it -96.65% down since that peak but still an impressive 7.63% since price per share fell to its 52-week low of $28.70. The company has a valuation of $46.87B, with an average of 25.42 million shares in intraday trading volume over the past 10 days and average of 9.38 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Truist Financial Corporation (TFC), translating to a mean rating of 2.70. Of 26 analyst(s) looking at the stock, 1 analyst(s) give TFC a Sell rating. 2 of those analysts rate the stock as Overweight while 14 advise Hold as 9 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.16.

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Truist Financial Corporation (NYSE:TFC) trade information

After registering a -5.67% downside in the latest session, Truist Financial Corporation (TFC) has traded red over the past five days. The stock hit a weekly high of 36.19 this Thursday, 03/16/23, dropping -5.67% in its intraday price action. The 5-day price performance for the stock is -20.00%, and -36.46% over 30 days. With these gigs, the year-to-date price performance is -27.79%. Short interest in Truist Financial Corporation (NYSE:TFC) saw shorts transact 13.74 million shares and set a 1.89 days time to cover.

Analysts on Wall Street suggest a consensus price target of $52.09, implying an increase of 40.35% to the stock’s recent value. The extremes give us $42.00 and $60.00 for target low and target high price respectively. As such, TFC has been trading -93.11% off suggested target high and -35.18% from its likely low.

Truist Financial Corporation (TFC) estimates and forecasts

Looking at statistics comparing Truist Financial Corporation share performance against respective industry, we note that the company has underperformed competitors. Truist Financial Corporation (TFC) shares are -35.43% down over the last 6 months, with its year-to-date growth rate lower than industry average at -2.62% against 9.80%. Revenue is forecast to shrink -5.70% this quarter before jumping 5.00% for the next one. The rating firms project that company’s revenue will grow 8.60% compared to the previous financial year.

Revenue forecast for the current quarter as set by 12 analysts is $6.13 billion. Meanwhile, for the quarter ending Jun 2023, a total of 12 analyst(s) estimate revenue growth to $6.31 billion.Earnings reports from the last fiscal year show that sales brought in $5.33 billion and $5.66 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 15.10% before jumping 11.60% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 10.50% for the past 5-year period. While 2023 is set for a -1.00% return in earnings, projections for the next 5 years are at -0.29% annually.

TFC Dividends

Truist Financial Corporation has its next earnings report out on April 20. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Truist Financial Corporation has a forward dividend ratio of 2.08, with the share yield ticking at 6.31% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Truist Financial Corporation (NYSE:TFC)’s Major holders

Truist Financial Corporation insiders hold 0.30% of total outstanding shares, with institutional holders owning 75.38% of the shares at 75.60% float percentage. In total, 75.38% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 120.88 million shares (or 9.11% of shares), all amounting to roughly $5.26 billion.

The next major institution holding the largest number of shares is Blackrock Inc. with 100.05 million shares, or about 7.54% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $4.36 billion.

We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Truist Financial Corporation (TFC) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 39.53 million shares. This is just over 2.98% of the total shares, with a market valuation of $1.72 billion. Data from the same date shows that the other fund manager holds a little less at 30.07 million, or 2.27% of the shares, all valued at about 1.31 billion.

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