Truist Financial Corp (TFC) saw its stock outdo competitors while upgrading its rating to 'Buy'. Despite some daily losses, a new 12-month high was achieved following an analyst upgrade. There were notable investments, including $611,000 from
PGGM Investments and $115,000 from
LRI Investments LLC.
Morgan Stanley increased Truist’s price target to $51.00. However, some analysts downgraded their outlook for TFC as noninterest income dropped significantly. The corporation beat Q2 earnings and revenue estimates, and institutions, owning 72% of the company, favour it. Truist paid dividends and signalized a strategic shift with the
divesture of its Insurance Holdings, valued at a substantial $15.5 billion. Despite a slump in the broader market, Truist stock gained momentum, delivering returns above-market average. In a strategic move, an insider purchased further shares, enhancing investor confidence. However, Truist cut its 2024 revenue guidance despite a solid Q1. There is room for growth, with a solid dividend yield adding to Truist's appeal. However, caution has been advised for potential buyers focused on the upcoming dividend.
Truist Financial Corporation TFC News Analytics from Tue, 02 Jan 2024 08:00:00 GMT to Sun, 04 Aug 2024 13:18:28 GMT -
Rating 5
- Innovation -1
- Information 7
- Rumor -6
