The price of Truist Financial Corporation (NYSE:TFC) shares last traded on Wall Street rose 0.68% to $44.42.
TFC stock price is now 14.39% away from the 50-day moving average and 23.51% away from the 200-day moving average. The market capitalization of the company currently stands at $59.44B.
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With the price target enhanced from $45 to $47, Citigroup Downgraded its rating from Buy to Neutral for Truist Financial Corporation (NYSE: TFC). On July 17, 2024, Robert W. Baird Downgraded its previous ‘Outperform’ rating to ‘Neutral’ on the stock keeping its target price maintained at $45, while ‘Barclays’ rates the stock as ‘Equal Weight’
In other news, ROGERS WILLIAM H JR, Chairman & CEO bought 57,300 shares of the company’s stock on Jul 23 ’24. The stock was bought for $2,518,908 at an average price of $43.96. Upon completion of the transaction, the Chairman & CEO now directly owns 569,271 shares in the company, valued at $25.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 07 ’24, Director Boyer K. David Jr. sold 3,764 shares of the business’s stock. A total of $141,084 was realized by selling the stock at an average price of $37.48. This leaves the insider owning 16,132 shares of the company worth $0.72 million. A total of 0.32% of the company’s stock is owned by insiders.
During the past 12 months, Truist Financial Corporation has had a low of $26.57 and a high of $44.78. The fifty day moving average price for TFC is $38.9342 and a two-hundred day moving average price translates $36.05095 for the stock.
The latest earnings results from Truist Financial Corporation (NYSE: TFC) was released for 2024-06-30. The net profit margin was -8.45% and return on equity was -10.53% for TFC. The company reported revenue of $6.18 billion for the quarter, compared to $5.78 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.92 percent.
