Truist Financial Corporation (NYSE:TFC) shares, rose in value, with the stock price up by 0.40% to the previous day’s close as strong demand from buyers drove the stock to $38.09.
Actively observing the price movement in the last trading, the stock closed the session at $37.94. The value of beta (5-year monthly) was 1.06. Referring to stock’s 52-week performance, its high was $39.29, and the low was $25.56. On the whole, TFC has fluctuated by 2.20% over the past month.
With the market capitalization of Truist Financial Corporation currently standing at about $50.83 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 18, 2024. The company’s Forward Dividend Ratio is 2.08, with its dividend yield at 5.46%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.8, which is expected to increase to $0.96 for fiscal year $3.36 and then to about $3.84 by fiscal year 2025. Data indicates that the EPS growth is expected to be -11.60% in 2025, while the next year’s EPS growth is forecast to be 14.30%.
Analysts have estimated the company’s revenue for the quarter at $5.69 billion, with a low estimate of $5.65 billion and a high estimate of $5.79 billion. According to the average forecast, sales growth in current quarter could jump down -7.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $21.45 billion, representing a decrease of -9.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that TFC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of TFC currently trading nearly 2.54% and 4.17% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.26, while the 7-day volatility ratio is showing 1.73% which for the 30-day chart, stands at 2.24%. Furthermore, Truist Financial Corporation (TFC)’s beta value is 1.07, and its average true range (ATR) is 0.86.
A comparison of Truist Financial Corporation (TFC) with its peers suggests the former has fared considerably weaker in the market. TFC showed an intraday change of 0.40% in last session, and over the past year, it grew by 19.22%%.
Data on historical trading for Truist Financial Corporation (NYSE:TFC) indicates that the trading volumes over the past 10 days have averaged 8.14 million and over the past 3 months, they’ve averaged 9.75 million. According to company’s latest data on outstanding shares, there are 1.33 billion shares outstanding.
Nearly 0.32% of Truist Financial Corporation’s shares belong to company insiders and institutional investors own 72.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.66 million shares as on Mar 15, 2024, resulting in a short ratio of 1.37. According to the data, the short interest in Truist Financial Corporation (TFC) stood at 1.02% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 14.8 million. The stock has risen by 3.17% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TFC stock heading into the next quarter.
