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Truist Financial Corporation (NYSE: TFC) Is Either An Instant Disaster Or A Huge Opportunity.

In the latest trading session, 1.45 million Truist Financial Corporation (NYSE:TFC) shares changed hands as the company’s beta touched 1.06. With the company’s most recent per share price at $28.34 changed hands at -$0.33 or -1.16% at last look, the market valuation stands at $38.29B. TFC’s current price is a discount, trading about -80.88% off its 52-week high of $51.26. The share price had its 52-week low at $25.56, which suggests the last value was 9.81% up since then. When we look at Truist Financial Corporation’s average trading volume, we note the 10-day average is 11.66 million shares, with the 3-month average coming to 10.43 million.

Analysts gave the Truist Financial Corporation (TFC) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 1 out of 27 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 17 recommended TFC as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Truist Financial Corporation’s EPS for the current quarter is expected to be $0.82.

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Truist Financial Corporation (NYSE:TFC) trade information

Instantly TFC was in red as seen in intraday trades today. With action -5.57%, the performance over the past five days has been red. The drop to weekly highs of 30.33 on Monday, 09/18/23 subtracted -1.16% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.14%, with the 5-day performance at -5.57% in the red. However, in the 30-day time frame, Truist Financial Corporation (NYSE:TFC) is -1.54% down. Looking at the short shares, we see there were 15.1 million shares sold at short interest cover period of 1.48 days.

The consensus price target for the stock as assigned by Wall Street analysts is $35.92, meaning bulls need an upside of 21.1% from its recent market value. According to analyst projections, TFC’s forecast low is $29.00 with $45.00 as the target high. To hit the forecast high, the stock’s price needs a -58.79% plunge from its current level, while the stock would need to soar -2.33% for it to hit the projected low.

Truist Financial Corporation (TFC) estimates and forecasts

Data shows that the Truist Financial Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -8.32% over the past 6 months, a -26.01% in annual growth rate that is considerably lower than the industry average of -0.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Truist Financial Corporation will fall -33.90%, while the growth in revenue is estimated to hit -33.80% for the next quarter. Year-over-year growth is forecast to reach 2.20% up from the last financial year.

Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $5.73 billion. 11 analysts are of the opinion that Truist Financial Corporation’s revenue for the quarter ending Dec 2023 will be $5.74 billion. The company’s revenue for the corresponding quarters a year ago was $5.93 billion and $6.21 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -3.40%. The estimates for the next quarter sales put growth at -7.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 10.50%. The 2023 estimates are for Truist Financial Corporation earnings to decrease by -1.00%, but the outlook for the next 5-year period is at -0.29% per year.

TFC Dividends

Truist Financial Corporation is expected to release its next quarterly earnings report in October. The 7.34% annual yield figure for the share gives it an annual dividend of 2.08. It is important to note, however, that the 7.34% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

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

If we look at who the major shareholders are, we find that insiders hold 0.29% of Truist Financial Corporation shares while 74.75% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.97%. There are 74.75% institutions holding the Truist Financial Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.78% of the shares, roughly 116.91 million TFC shares worth $3.55 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.38% or 98.32 million shares worth $2.98 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 41.56 million shares estimated at $1.26 billion under it, the former controlled 3.12% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.38% of the shares, roughly 31.71 million shares worth around $962.47 million.

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