In the last trading session, 12.68 million Truist Financial Corporation (NYSE:TFC) shares changed hands as the company’s beta touched 1.04. With the company’s per share price at $43.39 changed hands at $0.96 or 2.26% during last session, the market valuation stood at $58.11B. TFC’s last price was a discount, traded about -4.42% off its 52-week high of $45.31. The share price had its 52-week low at $26.95, which suggests the last value was 37.89% up since then. When we look at Truist Financial Corporation’s average trading volume, we note the 10-day average is 9.63 million shares, with the 3-month average coming to 7.83 million.
Analysts gave the Truist Financial Corporation (TFC) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.17. If we narrow down to specifics, the data shows that 1 out of 12 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended TFC as a Hold, 8 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 0.88.
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Truist Financial Corporation (NYSE:TFC) trade information
Instantly TFC was in green as seen at the end of in last trading. With action -1.18%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 17.52%, with the 5-day performance at -1.18% in the red. However, in the 30-day time frame, Truist Financial Corporation (NYSE:TFC) is 2.84% up. Looking at the short shares, we see there were 13.3 million shares sold at short interest cover period of 1.73 days.
The consensus price target for the stock as assigned by Wall Street analysts is 50, meaning bulls need an upside of 13.22% from its current market value. According to analyst projections, TFC’s forecast low is 43 with 76 as the target high. To hit the forecast high, the stock’s price needs a -75.16% plunge from its current level, while the stock would need to tank 0.9% 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 better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 11.71% over the past 6 months, a -0.28% in annual growth rate that is considerably higher than the industry average of -2.40%. Year-over-year growth is forecast to reach -14.80% down 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 5.06B. 9 analysts are of the opinion that Truist Financial Corporation’s revenue for the current quarter will be 5.01B. The company’s revenue for the corresponding quarters a year ago was 5.76B and 4.87B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -12.20%. The estimates for the next quarter sales put growth at 2.80%.
The 2024 estimates are for Truist Financial Corporation earnings to increase by 409.07%, but the outlook for the next 5-year period is at 7.01% per year.
TFC Dividends
Truist Financial Corporation is expected to release its next quarterly earnings report in November. The 4.79% annual yield figure for the share gives it an annual dividend of 2.08. It is important to note, however, that the 4.79% 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. During the past 5 years, the average dividend yield was 4.49 per year.
Truist Financial Corporation (NYSE:TFC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.28% of Truist Financial Corporation shares while 79.92% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.14%. There are 79.92% institutions holding the Truist Financial Corporation stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 8.8199% of the shares, roughly 117.75 million TFC shares worth $4.57 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 7.416% or 99.01 million shares worth $3.85 billion as of 2024-06-30.
