Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Truist Financial Corporation shares valued at $141,084 were sold by Boyer K. David Jr. on Mar 07 ’24. At $37.48 per share, Boyer K. David Jr. sold 3,764 shares. The insider’s holdings dropped to 16,132 shares worth approximately $0.6 million following the completion of this transaction.
Also, ROGERS WILLIAM H JR purchased 10,000 shares, netting a total of over 280,480 in proceeds. Following the buying of shares at $28.05 each, the insider now holds 412,924 shares.
Before that, PATTON CHARLES A had added 1,332 shares to its account. In a trade valued at $25,308, the Director bought Truist Financial Corporation shares for $19.00 each. Upon closing the transaction, the insider’s holdings increased to 1,332 shares, worth approximately $0.19 million.
As published in a research note from Stephens on March 19, 2024, Truist Financial Corporation [TFC] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $43 from $41. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of December 14, 2023, Odeon has increased its “Hold” rating to a “Buy” for TFC. Earlier on September 21, 2023, Keefe Bruyette upgraded its rating. Their new recommendation was “an Outperform” for TFC stock which previously was a “a Mkt perform”.
Analyzing TFC Stock Performance
During the last five days, there has been a drop of approximately -1.19%. Over the course of the year, Truist Financial Corporation shares have jumped approximately 1.57%. Shares of the company reached a 52-week high of $39.29 on 03/28/24 and a 52-week low of $34.23 on 02/13/24. A 50-day SMA is recorded $36.61, while a 200-day SMA reached $33.02. Nevertheless, trading volume fell to 14.31 million shares from 6.88 million shares the previous day.
Support And Resistance Levels for Truist Financial Corporation (TFC)
According to the 24-hour chart, there is a support level at 36.95, which, if violated, would cause prices to drop to 36.40. In the upper region, resistance lies at 38.18. The next price resistance is at 38.86. RSI (Relative Strength Index) is 50.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.29, which suggests the price will decrease in the coming days. Percent R is at 78.85%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Truist Financial Corporation subject to short interest?
Stocks of Truist Financial Corporation saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.58 million shares to 12.28 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 12.86 million shares. A decline of -4.72% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.27 of the overall float, the days-to-cover ratio (short ratio) decline to 1.27.
