Truist Financial Corporation (NYSE:TFC): A Fundamentally Weighted Stock for Long-Term Investors

Truist Financial Corporation (NYSE:TFC) shares traded 1.65% higher at $31.97 on Wall Street last session.

In accordance with the data, 26 analysts cover Truist Financial Corporation (NYSE:TFC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $24.00, we find $33.00. Given the previous closing price of $31.45, this indicates a potential upside of 4.93 percent. TFC stock price is now 10.82% away from the 50-day moving average and -2.53% away from the 200-day moving average. The market capitalization of the company currently stands at $42.64B.

Top 5 Artificial Intelligence Stocks to Buy for 2024

By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it. According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."

Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"


It has been rated a hold by 16 analysts and a buy by 7. Brokers who have rated the stock have averaged $33.81 as their price target over the next twelve months.

With the price target reduced from $37 to $36, Keefe Bruyette Upgraded its rating from Mkt Perform to Outperform for Truist Financial Corporation (NYSE: TFC).

In other news, ROGERS WILLIAM H JR, Chairman & CEO bought 10,000 shares of the company’s stock on Oct 20. The stock was bought for $280,480 at an average price of $28.05. Upon completion of the transaction, the Chairman & CEO now directly owns 412,924 shares in the company, valued at $13.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 03, Director PATTON CHARLES A bought 1,332 shares of the business’s stock. A total of $25,308 was incurred on buying the stock at an average price of $19.00. This leaves the insider owning 5,000 shares of the company worth $0.16 million. Insiders disposed of 211,969 shares of company stock worth roughly $6.78 million over the past 1 year. A total of 0.31% of the company’s stock is owned by insiders.

Truist Financial Corporation (NYSE: TFC) opened at $31.78 on Friday. During the past 12 months, Truist Financial Corporation has had a low of $25.56 and a high of $51.26. The fifty day moving average price for TFC is $28.89 and a two-hundred day moving average price translates $32.71 for the stock.

The latest earnings results from Truist Financial Corporation (NYSE: TFC) was released for Sep, 2023. According to the Banks – Regional Company, earnings per share came in at $0.84, beating analysts’ expectations of $0.82 by 0.02. This compares to $1.15 EPS in the same period last year. The net profit margin was 16.40% and return on equity was 9.26% for TFC. The company reported revenue of $6.23 billion for the quarter, compared to $4.37 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 42.57 percent. For the current quarter, analysts expect TFC to generate $5.68B in revenue.

Truist Financial Corporation(TFC) Company Profile

Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts. The company also provides funding; asset management; automobile lending; credit card lending; consumer finance; home equity and mortgage lending; insurance, such as property and casualty, life, employee benefits, workers compensation and professional liability, surety coverage, title, and other insurance products; investment brokerage; mobile/online banking; and payment, lease financing, small business lending, and wealth management/private banking services. In addition, it offers association, capital market, institutional trust, insurance premium finance, derivatives, commercial lending, international banking, leasing, merchant, commercial deposit and treasury, small business and student lending, floor plan, commercial mortgage lending, mortgage warehouse lending, private equity investment, real estate lending, and supply chain financing services. Further, the company provides corporate and investment banking, retail and wholesale brokerage, securities underwriting and market making, loan syndication, and investment advisory services. The company was formerly known as BB&T Corporation and changed its name to Truist Financial Corporation in December 2019. Truist Financial Corporation was founded in 1872 and is headquartered in Charlotte, North Carolina.

Related Posts