Truist Financial Corporation (NYSE: TFC) Could Be A Good Bet If You’re A Risk-Capital Investor

In the last trading session, 5.42 million shares of the Truist Financial Corporation (NYSE:TFC) were traded, and its beta was 1.08. Most recently the company’s share price was $38.37, and it changed around -$0.61 or -1.56% from the last close, which brings the market valuation of the company to $51.21B. TFC currently trades at a discount to its 52-week high of $39.29, offering almost -2.4% off that amount. The share price’s 52-week low was $25.56, which indicates that the current value has risen by an impressive 33.39% since then. We note from Truist Financial Corporation’s average daily trading volume that its 10-day average is 8.2 million shares, with the 3-month average coming to 9.86 million.

Truist Financial Corporation (NYSE:TFC) trade information

Instantly TFC has showed a red trend with a performance of -1.56% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 3.93% year-to-date, but still up 1.80% over the last five days. On the other hand, Truist Financial Corporation (NYSE:TFC) is 9.69% up in the 30-day period. We can see from the shorts that 13.66 million shares have been sold at a short interest cover period of 1.37 day(s).

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The consensus price target as assigned by Wall Street analysts is $63, which translates to bulls needing to increase their stock price by 39.1% from its current value. Analyst projections state that TFC is forecast to be at a low of $43 and a high of $76.

Truist Financial Corporation (TFC) estimates and forecasts

Truist Financial Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 35.92 percent over the past six months and at a -5.57% annual growth rate that is well above the industry average of -7.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -25.70% in revenue this quarter, and will report a decrease of -9.50% in the next quarter. The year-over-year growth rate is expected to be -9.10%, down from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $5.69 billion in revenue for the current quarter. 8 analysts expect Truist Financial Corporation to make $5.65 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $6.15 billion and $5.97 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -7.40%. Forecasts for the next quarter put sales growth at -5.40%.

Truist Financial Corporation earnings are expected to increase by 420.12% in 2024, but the outlook is negative -1.20% per year for the next five years.

TFC Dividends

Truist Financial Corporation’s next quarterly earnings report is expected to be released on April 18. The annual dividend yield of the stock is 5.42 percent and its annual dividend per share was 2.08. It is important to note, however, that the 5.42% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 0.27% of Truist Financial Corporation shares, and 72.93% of them are in the hands of institutional investors. The stock currently has a share float of 73.12%. Truist Financial Corporation stock is held by 1,750 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 8.78% of the shares, which is about 116.91 million shares worth $3.55 billion.

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

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 41.56 million shares worth $1.26 billion, making up 3.12% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 31.71 million shares worth around $962.47 million, which represents about 2.38% of the total shares outstanding.