Truist Financial Corporation (TFC) has witnessed a significant drop of 25.97% in the short percent of float since its last report on September 18, 2023. At present, there are 15.10 million shares sold short, accounting for approximately 1.14% of all regular shares available for trading. Considering the trading volume, it would take traders an average of 1.56 days to cover their short positions.
Monitoring short interest is crucial as it can provide insights into market sentiment surrounding a specific stock. A surge in short interest might indicate a more bearish outlook among investors, whereas a decrease in short interest may suggest a more bullish perspective.
However, traders should remain cautious and not solely rely on the decline in the percentage of shares sold short for Truist Financial as an indication of an imminent rise in the stock. Other factors and market conditions also play a significant role in determining its future performance.
Truist Financial Corporation
TFC
Strong Buy
Updated on: 29/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Buy
DCF: Strong Buy
ROE: Neutral
Truist Financial Corporation: Stock Performance, Market Cap, and Earnings Growth Analysis
On September 18, 2023, shares of TFC opened at $28.79, slightly lower than the previous day’s closing price of $29.00. Throughout the trading day, the stock experienced a range between $28.25 and $28.80. The volume of shares traded on this day was 10,761,029.
Truist Financial Corporation has a market capitalization of $38.6 billion and operates in the finance sector under the industry category of regional banks. The company’s corporate headquarters are located in Charlotte, North Carolina.
The company’s earnings growth for the previous year stood at -1.09%, while the current year’s earnings growth is at -10.94%. However, the company is projected to experience a positive earnings growth of +4.12% over the next five years.
Truist Financial Corporation has seen revenue growth over the past year, with a growth rate of +10.22%. The P/E ratio of TFC stands at 6.6, the price/sales ratio is 2.25, and the price/book ratio is 0.71.
On September 18, 2023, TFC stock experienced a decrease in value, with a change of -1.86 and a percentage change of -1.78%.
The next reporting date for Truist Financial Corporation is scheduled for October 19, 2023. Analysts are forecasting earnings per share of $0.95 for the current quarter. In the previous year, the company reported annual revenue of $25.6 billion and annual profit of $6.3 billion, with a net profit margin of 24.49%.
Investors should closely monitor the stock and consider various factors before making any investment decisions.
Truist Financial Corp (TFC) Stock Analysis: Potential for Growth According to Analysts Price Forecasts
On September 18, 2023, Truist Financial Corp (TFC) stock had a last price of $28.66. According to data from CNN Money, 25 analysts have provided 12-month price forecasts for TFC, with a median target of $36.00. The high estimate is $45.00, and the low estimate is $29.00.
Currently, there is a consensus among 28 polled investment analysts to hold stock in Truist Financial Corp. This rating has remained steady since September.
Looking at the financial performance of Truist Financial Corp, the company reported earnings per share of $0.95 for the current quarter. Additionally, the company had sales of $5.9 billion. Truist Financial Corp is scheduled to report its next earnings on October 19.
Based on the information provided, it appears that TFC stock has the potential for growth according to the analysts’ price forecasts. However, the consensus among investment analysts is to hold the stock, suggesting a cautious approach. Investors may want to consider the forecasts and financial performance of Truist Financial Corp before making any investment decisions.
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