Truist Financial Corporation (NYSE: TFC) stock jumped 0.56% on Tuesday to $30.75 against a previous-day closing price of $30.58. With 15.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 16.99 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $31.89 whereas the lowest price it dropped to was $30.64. The 52-week range on TFC shows that it touched its highest point at $52.22 and its lowest point at $25.56 during that stretch. It currently has a 1-year price target of $40.92. With its current market cap of 41.15 billion, TFC has annualized dividend of $2.08 while the current yield stands at 6.76%. Beta for the stock currently stands at 1.06.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TFC was up-trending over the past week, with a rise of 13.18%, but this was down by -3.36% over a month. Three-month performance dropped to -34.69% while six-month performance fell -32.65%. The stock lost -32.68% in the past year, while it has lost -28.54% so far this year. A look at the trailing 12-month EPS for TFC yields 4.49 with Next year EPS estimates of 4.33. For the next quarter, that number is 1.11. This implies an EPS growth rate of -1.00% for this year and -1.16% for next year. EPS is expected to decline by -0.29% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 10.50%.
Float and Shares Shorts:
At present, 1.33 billion TFC shares are outstanding with a float of 1.32 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 29.57 million, which was 2.22% higher than short shares on Mar 30, 2023. In addition to Mr. William Henry Rogers Jr. as the firm’s Exec. Chairman, CEO & Pres, Mr. Michael Baron Maguire serves as its Sr. EVP & CFO.
Institutional Ownership:
Other institutions hold 41.20% of TFC, in contrast to 32.77% held by mutual funds. Shares owned by individuals account for 0.33%. As the largest shareholder in TFC with 8.78% of the stake, The Vanguard Group, Inc. holds 116,631,210 shares worth 116,631,210. A second-largest stockholder of TFC, BlackRock Fund Advisors, holds 69,147,062 shares, controlling over 5.21% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in TFC, holding 59,859,864 shares or 4.51% stake. With a 3.09% stake in TFC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 41,081,933 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.33% of TFC stock, is the second-largest Mutual Fund holder. It holds 30,976,305 shares valued at 1.01 billion. Fidelity 500 Index Fund holds 1.11% of the stake in TFC, owning 14,681,819 shares worth 478.33 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TFC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TFC analysts setting a high price target of $50.00 and a low target of $31.00, the average target price over the next 12 months is $39.95. Based on these targets, TFC could surge 62.6% to reach the target high and rise by 0.81% to reach the target low. Reaching the average price target will result in a growth of 29.92% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded TFC stock several times over the past three months with 52 Buys and 13 Sells. In these transactions, 452,317 shares were bought while 170,021 shares were sold. The number of buy transactions has increased to 62 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 977,758 while 511,357 shares were sold.
