Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Different than value or growth investors, momentum-oriented investors live by the saying “the trend is your friend.” This investing style is all about taking advantage of upward or downward trends in a stock’s price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Truist Financial, formed following the ‘merger of equals’ deal between BB&T Corp and SunTrust Banks, is one of the largest commercial banks in the United States. The company — headquartered in Charlotte, NC — conducts business operations primarily through its bank subsidiary, Truist Bank, and few other non-bank subsidiaries.
TFC sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is down 2.8% and up 0.2% over the past one-week and four-week period, respectively, and Truist Financial Corporation has gained 36.9% in the last one-year period as well. Additionally, an average of 8,035,129 shares were traded over the last 20 trading sessions.
A company’s earnings performance is important for momentum investors as well. For fiscal 2024, six analysts revised their earnings estimate higher in the last 60 days for TFC, while the Zacks Consensus Estimate has increased $0.14 to $3.69 per share. TFC also boasts an average earnings surprise of 6.2%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding TFC to their portfolios.
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Truist Financial Corporation (TFC) : Free Stock Analysis Report
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Source: finance.yahoo.com
