In last trading session, Truist Financial Corporation (NYSE:TFC) saw 9.17 million shares changing hands with its beta currently measuring 1.07. Company’s recent per share price level of $37.69 trading at -$0.36 or -0.95% at ring of the bell on the day assigns it a market valuation of $50.30B. That closing price of TFC’s stock is at a discount of -2.07% from its 52-week high price of $38.47 and is indicating a premium of 32.18% from its 52-week low price of $25.56. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 10.04 million shares which gives us an average trading volume of 9.90 million if we extend that period to 3-months.
Truist Financial Corporation (NYSE:TFC) trade information
Upright in the red during last session for losing -0.95%, in the last five days TFC remained trading in the green while hitting it’s week-highest on Friday, 03/22/24 when the stock touched $37.69 price level, adding 2.23% to its value on the day. Truist Financial Corporation’s shares saw a change of 2.09% in year-to-date performance and have moved 8.12% in past 5-day. Truist Financial Corporation (NYSE:TFC) showed a performance of 5.75% in past 30-days. Number of shares sold short was 12.86 million shares which calculate 1.27 days to cover the short interests.
Truist Financial Corporation (TFC) estimates and forecasts
Statistics highlight that Truist Financial Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company added 33.84% of value to its shares in past 6 months, showing an annual growth rate of -6.69% while that of industry is -7.10. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -24.80% in the current quarter and calculating -8.40% decrease in the next quarter. This year revenue growth is estimated to fall -9.70% from the last financial year’s standing.
9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $5.7 billion for the same. And 8 analysts are in estimates of company making revenue of $5.66 billion in the next quarter that will end on Jun 2024. Company posted $6.15 billion and $5.97 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -7.40% while estimating it to be -5.20% for the next quarter.
In 2024, company’s earnings growth rate is likely to be around 437.02% while estimates for its earnings growth in next 5 years are of -1.20%.
TFC Dividends
Truist Financial Corporation is more likely to be releasing its next quarterly report on April 18 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Truist Financial Corporation (NYSE:TFC)’s Major holders
Insiders are in possession of 0.27% of company’s total shares while institution are holding 72.93 percent of that, with stock having share float percentage of 73.12%. Investors also watch the number of corporate investors in a company very closely, which is 72.93% institutions for Truist Financial Corporation that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at TFC for having 117.95 million shares of worth $4.45 billion. And as of Dec 30, 2023, it was holding 8.84% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 97.46 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 7.30% of outstanding shares, having a total worth of $3.67 billion.
On the other hand, Vanguard Total Stock Market Index Fund and Dodge & Cox Stock Fund are the top two Mutual Funds which own company’s shares. As of Dec 30, 2023, the former fund manager was holding 41.89 million shares of worth $1.58 billion or 3.14% of the total outstanding shares. The later fund manager was in possession of 34.23 million shares on Dec 30, 2023, making its stake of worth around $1.29 billion in the company or a holder of 2.56% of company’s stock.
