Truist Financial Corporation (NYSE:TFC) price closed lower on Tuesday, April 16, dropping -2.89% below its previous close.
A look at the daily price movement shows that the last close reads $36.70. Taking into account the 52-week price action we note that the stock hit a 52-week high of $39.29 and 52-week low of $25.56. The stock added 2.24% on its value in the past month.
Truist Financial Corporation, which has a market valuation of $47.56 billion. The company stock has a Forward Dividend ratio of 2.08, while the dividend yield is 5.84%. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking TFC have forecast the quarterly EPS to grow by 0.8 per share this quarter, while the same analysts predict the annual EPS to hit $3.36 for the year 2024 and up to $3.84 for 2025. In this case, analysts estimate an annual EPS growth of -11.60% for the year and 14.30% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $5.7 billion, with the likely lows of $5.65 billion and highs of $5.76 billion. The average estimate suggests sales growth for the quarter will likely fall by -7.40% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $21.48 billion for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow -9.00% below that which the company brought in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 1 upward and — downward reviews. On the technical perspective front, indicators give TFC a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 50% Buy.
The overview shows that TFC’s price is at present -5.25% off the SMA20 and -2.61% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 37.89, with weekly volatility standing at 2.71%. The indicator jumps to 2.21% when calculated based on the past 30 days. Truist Financial Corporation (NYSE:TFC)’s beta value is holding at 1.07, while the average true range (ATR) indicator is currently reading 0.96.
An analysis of the Truist Financial Corporation (NYSE:TFC) stock in terms of its daily trading volume indicates that the 3-month average is 9.81 million.
Current records show that the company has 1.33B in outstanding shares. The insiders’ percentage holdings are 0.32% of outstanding shares while the percentage share held by institutions stands at 72.22%. But the -3.47% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
