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Stock Charts AI Power Rank: 9.3
Power Rank trend -> Rising
07/08/2024 11:15:00 EST
Truist Financial Corp (TFC)
Industry: Banks - Regional
Follow @stockchartsai on TwitterPrice Support Resistance
In the past 20 trading days, TFC has been trading in a range between $39.25 and $35.41 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.
TFC is trading below resistance at $40.18, about 5% to the upside. There is support at $37.84 -1% to the downside. If it can break above the resistance, it could have some more upside. If the price starts to turn down and fails to get through this level or enters a yellow zone, we would consider profit taking or exiting the position. If it enters a red zone on the chart we would exit the position.
Upside / Downside Potential
Truist Financial Corp $TFC entered a Green zone 6 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $34.27, a potential down side of -10.33% from the recent price of 38.22. The stock is trading 5.99% (potential upside) below its 52 week high of $40.51 and 50.53 % (potential downside) above its 52 week low of $25.39 - based on the recent price.
Company Summary
Truist Financial Corporation, a financial services 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.
News
| Truist (TFC) Declares SCB, Rewards Shareholders With Buyback Plan Truist's (TFC) board of directors has approved a share repurchase authorization worth $5 billion through 2026, following the clearance of the 2024 stress test. Source: Zacks Investment Research Tue, 02 Jul 2024 09:40:41 -0400 Sentiment: Positive |
| This is how much the largest 20 U.S. banks raised dividends after stress tests With another round of Federal Reserve stress tests in the books, many large U.S. banks have already announced dividend increases. Analysts at Jefferies compiled the data in a report sent to clients early Monday. Source: Market Watch Mon, 01 Jul 2024 08:44:00 -0400 Sentiment: Positive |
| Truist announces planned capital distributions and stress capital buffer requirement following release of 2024 CCAR results CHARLOTTE, N.C. , June 28, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today released the results of its annual company-run stress test, conducted in accordance with the regulations of the Board of Governors of the Federal Reserve System ("Federal Reserve") and the Federal Deposit Insurance Corporation, under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Source: PRNewsWire Fri, 28 Jun 2024 16:30:00 -0400 Sentiment: Neutral |
| High Rates, Restructuring Aid Truist (TFC) Amid Cost Woes Truist (TFC) is well-positioned for top-line improvement, supported by higher interest rates and decent loan growth. Yet, elevated costs might hurt profits. Source: Zacks Investment Research Fri, 28 Jun 2024 13:01:34 -0400 Sentiment: Neutral |
| Federal Reserve says all 31 banks in annual stress test withstood a severe hypothetical downturn The Federal Reserve said Wednesday that the biggest banks operating in the U.S. would be able to withstand a severe recession scenario. Each of the 31 banks in this year's regulatory exercise cleared the hurdle of being able to absorb losses while maintaining more than the minimum required capital levels, the Fed said in a statement. Source: CNBC Wed, 26 Jun 2024 16:30:10 -0400 Sentiment: Positive |
Technicals 52 Week Hi: 40.51 52 Week Low: 25.3938 Beta: 1.054 50 Day MA: 37.9724 200 Day MA: 35.0006 Earnings / Revenue Trends Qtr Earnings Growth YOY: -0.236 Qtr Revenue Growth YOY: -0.098 Forward PE: 10.4603 Trailing PE: 0